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CoreWeave, Inc. (CRWV) reported a 134% increase in revenues for Q3 2025, reaching $1.4 billion, exceeding both management’s guidance of $1.26 billion to $1.3 billion and the Zacks Consensus Estimate by 6.8%. The company’s aggressive expansion to meet soaring AI compute demand is marked by raising $14 billion in debt and equity year-to-date, resulting in nearly 590 megawatts of active power and 2.9 gigawatts of contracted power as of quarter-end.
Despite the revenue growth, CoreWeave faces financial strain with interest expenses soaring to $311 million, up from $104 million the previous year. For 2025, expected interest expenses are projected between $1.21 billion and $1.25 billion. The company’s adjusted net loss for Q3 was $41 million, compared to break-even adjusted net income a year ago, indicating challenges in managing its expanded capital structure while competing against firms like Nebius (NBIS) and Microsoft (MSFT).
Nebius saw a staggering 355% growth in revenues to $146.1 million, with plans for aggressive expansion funded through debt, while Microsoft will boost its AI capacity by over 80% this fiscal year and double its data center footprint in two years, supported by $102 billion in cash and equivalents as of September 30, 2025.
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