Jim Cramer on CoreWeave: "The Missed Quarter Shocked People"

CoreWeave, Inc. (NASDAQ:CRWV) is one of the stocks Jim Cramer recently put under a microscope. Cramer noted that the company did not deliver a good quarter, as he commented:

“… the quarter we just got from CoreWeave, that’s a key data center operator that had to cut its full-year outlook today because it has contracted with an outfit called Core Scientific that failed to deliver its part of several data centers on time. It’s a huge piece of business that didn’t get done. The missed quarter shocked people, and it was a wake-up call that you can’t build these data centers overnight, and there could be even more costs than we thought.”

CoreWeave, Inc. (NASDAQ:CRWV) provides cloud infrastructure and services to support AI and enterprise compute workloads. The company’s solutions include GPU and CPU compute, storage, networking, rendering, AI model training, and machine-learning optimization tools. A caller inquired about Cramer’s thoughts on the company during the October 24 episode, and he replied:

“Okay, I’m on the fence on CoreWeave right here. I’ll tell you why. They’re trying to do this acquisition. I want to get this thing out of the way. I do think that the acquisition would be better than not. I hope they get it. If they get it… and the stock goes down, that would be the exquisite time to buy. So I’m on hold right now, but I do like the company very much. I like the CEO, Michael Intrator. Terrific guy.”

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Disclosure: None. This article is originally published at Insider Monkey.