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Coreweave’s Losses Widen in 1Q2026; Forecast Disappoints
May 8, 2026
CoreWeave posted 1Q2026 results, with revenue more than doubling to $2.08bn, beating estimates, but its Q2 guidance disappointed. The company projected Q2 revenue of $2.45–2.60bn against analyst expectations of $2.70bn, and guided adjusted operating income of just $30–90mn vs. forecasts of ~$154mn. The company’s operating loss also widened to $144mn in Q1, and it held off on raising full-year guidance. The shortfall reflects heavy near-term spending to build out data center capacity. CEO Mike Intrator argued the payoff will come in H2, when that infrastructure comes online. However, some analysts believe that the claim is ambitious given rising component costs. On the positive side, its backlog hit nearly $100bn, and the company is diversifying beyond traditional AI clients into financial services, retail, and engineering. To fund its expansion, CoreWeave is tapping debt markets, including by securing an investment-grade loan backed by its GPUs and a Meta contract.
Coreweave’s dollar bonds traded stable. Its 9.75% 2031s were at 101.7, yielding 9.3%
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