CoreWeave has informed investors that it anticipates generating between $12 billion and $13 billion in revenue for its fiscal year 2026. This expectation was first shared in February 2026 during its Q4/FY2025 earnings release, and it was reaffirmed in its Q1 2026 earnings report on May 7. In the first quarter, CoreWeave reported revenue of $2.078 billion, marking a substantial 112% increase compared to $982 million during the same period the previous year.
#How significant is CoreWeave's revenue backlog?
As of March 31, 2026, CoreWeave's contracted revenue backlog reached $99.4 billion. The company has established relationships with some of the leading names in artificial intelligence, including OpenAI, Meta, and Jane Street. The CEO describes CoreWeave’s role as a vital connection between AI models and the silicon necessary for their operation.
#What is the capital expenditure forecast for 2026?
CoreWeave has set its capital expenditure guidance for 2026 between $31 billion and $35 billion. This figure represents an increase from an initial estimate of $30 billion, influenced by rising costs of components. The company is positioning itself for growth and anticipates finishing 2026 with an annualized revenue run-rate of $18 billion to $19 billion.
#Are investors concerned about CoreWeave's stock performance?
Despite strong initial revenue figures, CoreWeave's stock has not experienced unbridled enthusiasm among investors. Following the Q1 earnings report, reactions were mixed, primarily due to increased capital expenditure forecasts and uncertainty surrounding the Q2 outlook. Investors will be closely monitoring the next significant milestone, which is the Q2 earnings report scheduled for August 11, 2026.
#What does the future look like for CoreWeave?
CoreWeave is also planning for future growth with a roadmap that includes expanding its infrastructure to achieve over 8 gigawatts of active power capacity by 2030. Meanwhile, the CFO and finance team must balance the dual challenge of funding significant infrastructure developments with the need to demonstrate a credible path to profitability, satisfying the expectations of public market investors.