CoreWeave Promises Profits by 2028 and Swears Off Expensive Unsecured Debt, Sparking a 16% Premarket Rally as Its Backlog Hits $132.5 Billion
CoreWeave’s third-quarter revenue jumped 168% to $3.66 billion, its backlog climbed to $132.5 billion and it now expects adjusted profits in the first half of 2028. But $846 million in quarterly interest costs and a $46.9 billion debt load show why the AI cloud bet still divides Wall Street.
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