CoreWeave Stock Ramps 30% Into Q2 Earnings: Here's What To Watch

CoreWeave, Inc. CRWV )) the AI-focused cloud infrastructure provider, is set to deliver its second-quarter earnings after the market closes on Tuesday. 

CoreWeave stock has climbed more than 30% over the past five days as investors anticipate the report. 

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Can CoreWeave Achieve Its Billion-Dollar Quarter?

Investors and analysts are watching the rapidly expanding firm as it approaches its first-ever billion-dollar quarter. Consensus revenue estimates are around $1.08 billion, which would mark a pivotal milestone in CoreWeave's short history as a public company.

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Analysts expect CoreWeave to report quarterly losses of 17 cents per share, according to estimates from Benzinga Pro, signaling ongoing heavy investment in CoreWeave's platform as it races to scale up infrastructure for blue-chip AI clients such as Microsoft, Meta Platforms and IBM. 

The company's first quarter results revealed massive 420% year-over-year revenue growth, paired with losses expanding due to the company's aggressive expansion and capital spending.

One major growth lever is CoreWeave's five-year, $11.9 billion agreement with OpenA. Another is the company’s recent acquisition of Core Scientific, set to bring further scale and massive data center capacity across the U.S. and Europe. 

CoreWeave has also raised its full-year guidance to between $4.9 billion and $5.1 billion in revenue as demand for GPU-accelerated cloud solutions surges. 

Why Analysts Are Cautious Despite Record Growth

Despite these tailwinds, analysts warn of ongoing volatility. Capital expenditure is projected between $3 billion and $3.5 billion this quarter and between $20 billion and $23 billion for 2025. 

Notably, HSBC analyst Abhishek Shukla initiated coverage on CoreWeave stock in late July with a Reduce rating and a price target of $32.

The analyst said the stock appeared overvalued and Microsoft accounted for 72% of CoreWeave’s revenue, with Microsoft and OpenAI together making up the majority of the company’s backlog. 

CoreWeave stock has a consensus price target of $100.12 based on the ratings of 19 analysts, however, with a high of $200 issued by Argus Research. 

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