CoreWeave’s shares dropped as much as 9 per cent in after-hours trading on Tuesday, after the artificial intelligence data centre operator reported bigger second-quarter net losses than Wall Street expected.
CoreWeave, which leases computing power to AI groups, said its net losses for the quarter were $291mn, compared to analyst estimates of $241mn, as the company reported earnings for the second time since its downsized initial public offering earlier this year.
It posted revenues of $1.2bn for the three months to the end of June, above analyst estimates of $1.1bn.
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