CoreWeave shares sank 13% on Tuesday after CEO Mike Intrator addressed delays at a third-party data center developer that hit full-year guidance in its latest earnings report.
"Quite frankly, every single part of this quarter went exactly as we planned, except for one delay at a singular data center," Intrator told CNBC's "Squawk on the Street" on Tuesday.
He then clarified that a "singular data center provider" is more accurate.
"Some people might think it's one complex, but when I go over the numbers, we're talking about multiple places," CNBC's Jim Cramer said. "And it just so happens that the places are all connected to an outfit called Core Scientific that you tried to buy."
Cramer noted delays at complexes in Texas, Oklahoma and North Carolina.
Intrator said the companies have been working together on infrastructure for a long time a would continue work to bring it online. He did not directly confirm that Core Scientific is the third-party provider.
CoreWeave tried to acquire Core Scientific for $9 billion earlier this year. Core Scientific shareholders voted against the proposed deal. Core Scientific shares sank 7% Tuesday.
During CoreWeave's quarterly earnings call on Monday, JPMorgan Securities analyst Mark Murphy asked if the delay was related to Core Scientific, but Intrator declined to name the company. At another point in the call, the CEO suggested that just one data center, not multiple sites, were affected.
"There was a problem at one data center that's impacting us, but there are 41 data centers in our portfolio," Intrator said.