Overview
- CoreWeave is set to report Q4 fiscal 2025 after the close on Feb. 26, with Street revenue consensus near $1.56 billion inside the company’s $1.49–$1.59 billion range.
- Wells Fargo reiterates Overweight with a $125 target and models roughly $1.57 billion for Q4, while Morgan Stanley stays Equal Weight at $99 citing execution risks and data‑center delays.
- Management has indicated the company surpassed its prior 850‑megawatt active‑power goal, and investors want a clear path to multi‑gigawatt expansion after earlier site setbacks.
- Backlog stood around $55.6 billion in Q3 2025 and analysts model about $12 billion in 2026 revenue, yet revenue remains heavily concentrated with estimates showing 77% from two customers and Microsoft at 62% previously.
- Financing scrutiny persists following a $2.6 billion debt facility and $1.75 billion in notes as Fitch flags capex of roughly $13 billion in 2025 and $19 billion in 2026; Reuters‑reported questions around Blue Owl financing on a Pennsylvania project contrast with company assurances, while Nvidia invested $2 billion recently and ARK Invest bought about $3.46 million in shares.