CoreWeave tops revenue estimates as AI boom supercharges cloud demand

CoreWeave Inc beat analysts’ estimates for quarterly revenue on Thursday, as the specialised cloud provider tapped into strong demand for its high-performance computing services used to train and deploy artificial intelligence models.

The company’s shares were flat in volatile extended trading following a ‌jump in ⁠operating expenses.

Demand ⁠for services from the so-called neoclouds, such as CoreWeave and peer Nebius, has skyrocketed as companies race to secure the computing capacity required to develop and run AI models.