CoreWeave, Inc., recognized as the AI Hyperscaler™, announced impressive first-quarter financial results for 2025, showcasing a strong surge in demand for its AI-focused cloud infrastructure. The company’s revenue reached approximately $981.6 million, a substantial increase of 420% compared to $188.7 million in the previous year. However, CoreWeave reported an operating loss of $27.5 million and a net loss of $314.6 million, widening from a net loss of $129.2 million in Q1 2024.
CEO Michael Intrator highlighted the company’s achievements, including its initial public offering (IPO), strategic partnerships with organizations like OpenAI, and acquisitions, all contributing to the robust demand for their services. CoreWeave’s reputation as a leader in the AI infrastructure landscape continues to be bolstered by strong customer engagement and technological advancements.
During the first quarter, CoreWeave’s total operating expenses were approximately $1 billion, a reflection of significant investment in scaling its infrastructure and workforce to meet the rapidly growing market needs. Moreover, the company achieved an adjusted EBITDA of $606.1 million, marking a 480% increase from the previous year.
The reported revenue backlog stood at $25.9 billion as of March 31, comprising various committed contracts. Additionally, the company launched new products aimed at enhancing cloud services, including AI Object Storage, and demonstrated its leadership in AI performance metrics with competitive results in the MLPerf Inference v5.0.
Looking forward, CoreWeave is well-positioned to continue scaling its operations to meet the increasing penetration of AI technologies across industries.
This surge in demand for AI infrastructure underscores a robust market outlook, with possibilities for further growth and innovation. Companies like CoreWeave are vital in supporting the continuous evolution and implementation of advanced AI applications, contributing significantly to the tech landscape’s future.