CoreWeave Shares Dip on Weaker 2025 Revenue Guidance Amid Data Center Delays
- ByStartupStory | November 11, 2025
Shares of CoreWeave, a prominent AI-focused cloud infrastructure provider, fell over 6% in aftermarket trading following the release of its third-quarter 2025 earnings report. The decline was largely attributed to management’s downward revision of the full-year 2025 revenue forecast due to supply chain delays and construction setbacks at a third-party data center facility.
For the quarter, CoreWeave generated $1.4 billion in revenue, more than doubling compared to the previous year, and showcasing impressive growth fueled by soaring demand for AI compute resources across industries. Adjusted EBITDA also rose, affirming operational leverage despite cost pressures.
However, the CFO guided full-year revenue to $5.05 billion–$5.15 billion, slightly shy of earlier forecasts in the range of $5.15 billion–$5.35 billion. The revision stemmed from delayed availability of new data centers critical to scaling capacity for major AI customers like Meta, OpenAI, and Poolside. These delays are a consequence of broader industry supply bottlenecks affecting construction timelines.
CoreWeave’s contract backlog, a strong indicator of future demand, swelled to $55.6 billion, almost doubling from the prior quarter and reflecting the company’s leadership position in AI infrastructure services.
The company’s 2025 capital expenditure is expected in the range of $12 billion to $14 billion, with a sharp increase anticipated in 2026 to meet AI customer needs. Despite robust demand, investors remain cautious due to CoreWeave’s elevated debt load—totaling $14 billion including $9.7 billion maturing within a year—and rising interest expenses.
CEO Michael Intrator expressed confidence in overcoming near-term challenges, emphasizing ongoing negotiations with customers to adjust project schedules while preserving contract value. The demand outlook for AI workloads remains strong, but supply chain constraints in the semiconductor and data center sectors are tempering immediate growth.
Following the earnings release, CoreWeave’s shares traded around $105.61, down from recent highs above $130 seen in early November. Analysts acknowledged the company’s impressive growth trajectory but noted cautious outlook adjustments amid macroeconomic uncertainties and operational challenges.
In conclusion, while CoreWeave continues to capitalize on accelerating AI infrastructure demand with record revenues and contract backlog, short-term revenue guidance cuts and supply constraints have pressured shares. The company is focused on scaling capacity efficiently to sustain its AI ecosystem leadership amid an evolving and competitive market landscape.
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