•CoreWeave's stock fell over 8% after announcing plans to nearly double capital expenditure to $30-$35 billion by 2026, up from $14.9 billion in 2025.
•The surge in spending is driven by purchases of advanced AI chips from Nvidia, rapid data center expansion, and energy procurement to meet surging customer demand.
•Despite a modest Q4 revenue beat of $1.57 billion, adjusted net loss widened to $284 million, reflecting heavy upfront infrastructure investment.
•The company's revenue backlog soared to $66.8 billion, with 70% from financially strong customers, but delivery depends on timely data center capacity.
•CoreWeave competes with tech giants like Microsoft and Alphabet, offering exclusive access to GPU clusters, and aims to lower its $14 billion debt financing costs.
