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00:02CoreWeave shares surged 24.71% Wednesday, their best day since April 2025,
00:09after the company beat quarterly earnings estimates and raised its full-year guidance,
00:14according to CNBC. Third quarter revenue jumped 168% to $3.7 billion.
00:21CEO Michael Intrader said,
00:23demand for AI infrastructure remains overwhelming, with capacity oversubscribed for 2027 and 2028.
00:30CoreWeave eased investor concerns over rising debt costs
00:34by outlining additional financing options for its data center expansion.
00:39Intrader said the company plans to launch additional asset-level debt financing
00:43at an expected interest rate of 7% to 7.5%.
00:47CoreWeave now expects $13 billion to $13.3 billion in annual revenue,
00:54above analysts' $12.86 billion estimate.
00:58Shares of fellow NeoCloud companies Nebius, Applied Digital, and Iren also climbed Wednesday.
01:04For all things money, visit Benzinga.com.
