Beating estimates and still getting booed by investors is becoming Wall Street’s favorite contradiction. CoreWeaveCRWV

posted first-quarter revenue of $2.08B, topping analyst estimates and more than doubling from $981.8M a year ago. But the strong growth was overshadowed by mounting concerns around profitability and leverage, sending shares lower in after-hours trading.

• The AI infrastructure player raised $8.5B in fresh debt during the quarter and has secured more than $20B in financing this year, ending March with nearly $25B in debt.
• Adjusted operating income reached $21M, but the company’s net loss still widened sharply to $740M from $315M last year.

The financial tightrope: CoreWeave’s stock had surged roughly 80% in 2026 heading into earnings, fueled by mega-deals with MetaMETA

, Anthropic, and Jane Street. But with capex projected between $30B and $35B this year alongside debt carrying interest rates near 10%, investors are increasingly focused on whether the company can keep revenue growth moving faster than its enormous costs. AI demand may look limitless, but investor patience probably isn’t.