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flag Nvidia-backed CoreWeave reports massive revenue rise, plans big AI investments despite losses.

flag Nvidia-backed cloud computing firm CoreWeave reported a 420% year-over-year revenue increase to $981.63 million, surpassing estimates. flag Despite an adjusted loss of $1.49 per share, the company's revenue backlog reached $25.9 billion, including a significant addition from a deal with OpenAI. flag CoreWeave plans to invest $20 to $23 billion in AI infrastructure and data centers this year to meet demand, notably from clients like Microsoft. flag The company's stock initially surged but ended down 5% after the earnings release.

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