What happened: CoreWeave (CRWV) stock sank 11% on Friday.
What’s behind the move: The AI data center operator issued a disappointing forecast for the current quarter. The company expects revenue of $2.45 billion to $2.6 billion, falling short of Wall Street’s $2.7 billion expectations.
Projected operating income of $30 million–$90 million was well short of the $154 million analysts expected. The company also declined to raise its full-year forecast.
What else you need to know: CoreWeave shares have surged 78% in 2026 and more than 200% since its IPO in March of last year, riding the wave of AI data center demand.
The company, which rents access to AI infrastructure powered by Nvidia (NVDA) chips, has strong tailwinds from tech companies ramping up spending. Recent deals with Meta (META) and Anthropic (ANTH.PVT) have boosted confidence, but the stock has sold off after every earnings report since its IPO. Previously, shares quickly recovered from those drops.
Ines Ferre is a Senior Business Reporter for Yahoo Finance covering the US stock market, crypto, and commodities.
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