GoKawiilCoreWeave shifts to prepayments and shorter contracts to fund AI buildout
CoreWeave reported Q3 revenue of $3.66 billion, up 168% year-over-year, alongside a $709 million net loss and $846 million in quarterly interest expense. The neocloud company said it will rely on customer prepayments, loans tied to specific contracts, and shorter-term deals rather than unsecured debt to finance infrastructure for its $132.5 billion backlog, with CEO Michael Intrator citing unfavorable current borrowing rates.