CoreWeave's Q1 revenue surges 420% to $981M - Breaking The News

CoreWeave's Q1 revenue surges 420% to $981M

14 May

1 min read

COURTESY OF COREWEAVE

CoreWeave, Inc. reported on Wednesday a 420% year-over-year revenue surge for the first quarter of 2025, reaching $981.6 million, driven by strong demand for its AI cloud infrastructure.

The company, which debuted on the Nasdaq this year, cited strategic wins, including a multibillion-dollar deal with OpenAI and a partnership with IBM, as key growth catalysts. Despite a net loss of $314.6 million or $1.49 per diluted share, the New Jersey-based AI hyperscaler posted a robust adjusted EBITDA of $606.1 million, up 480% from the same quarter in 2024.

"Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications. We are scaling as fast as possible to capture that demand. The future runs on CoreWeave," said Michael Intrator, CoreWeave's co-founder and Chief Executive Officer.

CoreWeave shares rose 3% in after-hours trading following the company's release of first-quarter revenue.

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