CoreWeave tops revenue estimates as AI boom supercharges cloud demand (opens in new tab)

CoreWeave Inc beat analysts' estimates for quarterly revenue on Thursday, as the specialized cloud provider tapped ‌into strong demand for its high-performance computing services used ‌to train and deploy artificial intelligence models. The company ⁠reported total revenue of $2.08 billion for the first quarter, compared with analysts' average estimate of $1.97 billion, according ⁠to data compiled by LSEG. The business model for AI infrastructure is exceptionally ​capital-intensive.