CRWV Shares Drop 9% on Weak Outlook and Data Center Delays, CORZ Fallout

CoreWeave's (CRWV) share price dropped 9% in pre-market trading, falling below $100 for the first time since September, following a warning that data center delays would negatively impact fourth-quarter results. Although the company beat third-quarter revenue and EPS expectations, it lowered its full-year guidance, citing supply chain pressures on data center developers. This decline extends a broader slide that began after shareholders at Core Scientific (CORZ) rejected a proposed merger last month. CEO Michael Intrator stated the required valuation for the Core Scientific deal was inappropriate for CoreWeave, but assured that the outcome does not hinder growth ambitions, noting they will continue collaborating with Core Scientific on leased capacity. Despite these short-term headwinds, CoreWeave continues to expand its infrastructure footprint.

(Source：CoinDesk)