CoreWeave shares drop even as revenue tops estimates

Core Financial Performance - CoreWeave reported a revenue of $1.21 billion for the second quarter, exceeding expectations of $1.08 billion, and more than tripling from $395.4 million a year earlier [1][5] - The company registered a net loss of $290.5 million, an improvement from a loss of $323 million in the same quarter of 2024 [1][2] - The operating margin decreased to 2% from 20% a year ago, primarily due to $145 million in stock-based compensation costs [2] Business Developments - CoreWeave highlighted an expansion in its business relationship with OpenAI, a significant client and investor [2] - The company acquired Weights and Biases, a startup focused on AI model monitoring, for $1.4 billion [2] Market Performance - CoreWeave shares fell approximately 6% in extended trading despite the strong revenue performance [1] - The stock was trading at $148.75, resulting in a market capitalization of over $72 billion, following its IPO where it raised $1.5 billion by selling 37.5 million shares at $40 each [3] Future Outlook - A data center project with a capacity of up to 250 megawatts is scheduled for delivery in 2026 [4] - Management will discuss the financial results and provide guidance during a conference call [4]