CoreWeave Earnings Preview: AI Spending in the Spotlight

CoreWeave Inc (NASDAQ:CRWV) is scheduled to report second-quarter earnings after the close Today. According to Zacks Research, analysts expect a loss of $1.17 per share on revenue of $2.54 billion, representing a 333.3% year-over-year widening in losses alongside 109.1% revenue growth. As one of the biggest providers of AI cloud infrastructure, CoreWeave's results will be closely watched for insight into hyperscaler AI spending, capital expenditures, and demand for Nvidia-powered computing capacity.

Options traders are pricing in a 17.5% post-earnings move, regardless of direction, above CoreWeave stock's average post-earnings swing of 13.9%, since its March 2025 initial public offering (IPO). The stock has never posted a positive post-earnings reaction, falling after all five of its quarterly reports as a public company. Most recently, the shares dropped 11.4% in May.

On the charts, pressure at the 60-day moving average is keeping a lid on CRWV's rally off its late-July 52-week low of $60.56. Year to date, the equity is up 24.8%. 

Wall Street is leaning bullish despite the recent low. Of the 36 brokerages covering CoreWeave, 22 carry a "strong buy" rating, while 13 maintain a "hold" recommendation, and one rates the stock a "strong sell."

Short interest also remains heightened heading into the event, with 17.61% of the stock's available float sold short. At CoreWeave's average daily trading volume, it would take short sellers over two days to buy back their bearish bets.