DECRYPT · 2026-11-11 22:36 UTC

Nvidia-Backed CoreWeave Is Surging: Here’s What It Means for the AI Boom

CoreWeave soared 24.7% Wednesday after reporting $3.66 billion in third-quarter revenue, up 168% from a year earlier, and raised its 2026 sales forecast to $13 billion to $13.3 billion. The company reported $132.5 billion in revenue backlog, more than 1.7 gigawatts of active power capacity, and expects about $9 billion in customer prepayments and deposits over the next three months. Nvidia invested another $2 billion in CoreWeave in January at $87.20 per share and has a $6.3 billion initial agreement to buy CoreWeave's unused computing capacity through April 2032.

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