8/103 sources · 2 publishersUpdated Nov 12, 11:42 UTC
CoreWeave shares tumble after-hours as Nvidia leadership turmoil raises partnership risk
CoreWeave reported third‑quarter revenue of $3.66 billion, up 168% year‑over‑year, and a contracted backlog of about $132.5 billion. After Nvidia’s board announced a possible review of CEO Jensen Huang’s role, CoreWeave’s stock fell roughly 7% in after‑hours trading. CEO Michael Intrator reiterated Nvidia’s importance but declined to comment on the board matter.
Why it matters
The share decline reflects investor concern that a change at Nvidia could affect its equity stake, supply of processors and back‑stop contracts that underpin CoreWeave’s growth, potentially increasing financing risk for the AI‑cloud provider.
Key facts
- 1CoreWeave’s Q3 revenue was $3.66 billion, a 168% increase from the prior year. finance.yahoo.com
- 2The company’s contracted backlog was $132.5 billion. finance.yahoo.com
- 3CoreWeave guided 2026 revenue to $13.0 billion‑$13.3 billion. finance.yahoo.com
- 4Nvidia invested $2 billion in CoreWeave in January at $87.20 per share. finance.yahoo.com
- 5CoreWeave’s shares fell about 7% in after‑hours trading following the Nvidia board news. finance.biggo.com
- 6Analysts maintain a Moderate Buy rating on CoreWeave with a price target near $108. finance.yahoo.com
Open questions
- Nvidia’s ownership percentage in CoreWeave is reported as 12.8% and 10%.
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.