Core Viewpoint - CoreWeave has lowered its full-year revenue outlook due to delays in fulfilling contracts with clients, highlighting ongoing supply chain bottlenecks in the AI demand surge [1][2] Financial Performance - CoreWeave expects 2025 revenue to be between $5.05 billion and $5.15 billion, down from the previous estimate of $5.15 billion to $5.35 billion [2] - In Q3, CoreWeave reported a revenue of $1.36 billion, exceeding market expectations of $1.29 billion, but the operating margin was 4%, lower than the analyst estimate of 6.5% [2] - The company recorded a net loss of $110 million, an improvement from a loss of $360 million in the same period last year, with a loss per share of $0.22, better than the expected loss of $0.57 [2] Client and Market Dynamics - The number of clients generating over $100 million in revenue has doubled year-over-year, indicating a more diverse client base [3] - As of the end of Q3, CoreWeave had $55.6 billion in unfulfilled orders, nearly doubling from the previous quarter [2][3] Capital Expenditure - CoreWeave's capital expenditure for this year is projected to be between $12 billion and $14 billion, with expectations for a more than doubling of this amount next year [3]