CoreWeave turns to customer prepayments to fund $132.5B AI backlog
coreweave is asking customers to pay up front and pursuing short-term deals to fund its ai growth, amid a $132.5 billion backlog. this could boost profits but carries risk around contract renewals and pricing.
coreweave is changing its financing strategy to fund ai growth, relying on customer prepayments and shorter-term contracts. the company reported $3.66 billion in revenue, up 168% from the year prior, and posted a $709 million net loss. coreweave expects $9 billion in customer prepayments and deposits over the next three months and has closed a $2.6 billion loan for shorter-term customer contracts. this strategy could boost profits but carries risk around contract renewals and pricing. the company's growth is dependent on sustained demand for ai infrastructure.