CoreWeave, a fast-growing cloud computing provider that rents access to Nvidia’s hard-to-get artificial intelligence chips, has raised more than $2.7 billion in debt and equity this year to obtain more chips and space in data centers. Now CoreWeave may be feeling growing pains.
The company recently lowered its projected revenue and capital expenditure for the year, according to documents viewed by The Information. In April, the company told investors it expected to generate about $630 million in revenue, according to a document viewed by The Information. But in a June document viewed by The Information, the company cut that number to just over $500 million. CoreWeave previously told investors it expected $3.3 billion in capex. The June document reduced that to $2.3 billion.
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