THE BARE STORY
CoreWeave shares rose in trading Wednesday after the company reported third-quarter revenue growth and raised its full-year forecast. The stock was up about 11% in premarket trading and later gained more than 20% during the day.
The company reported revenue of $3.7 billion for the three months ended Sept. 30, a 168% increase from a year earlier. It projected full-year revenue of $13 billion to $13.3 billion and adjusted operating income of $1.275 billion to $1.375 billion.
Chief Executive Michael Intrator said he had canceled his planned stock-sale program. Under the plan, established in November 2025, Intrator had sold 8.26 million shares at an average price of $96.14, totaling about $794.2 million. He said future sales would be limited to ordinary tax obligations unless there is a material change in the company’s valuation.
Other companies in the neocloud sector also rose in premarket trading, including Nebius, Applied Digital and IREN. CoreWeave had faced investor scrutiny in recent weeks over its financing and executive share sales, while the company said it continued to target 1.85 gigawatts of active power by the end of 2026.
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