CoreWeave targets 2028 profit with $46.9 billion debt load

CoreWeave said it expects to turn profitable on an adjusted basis in the first half of 2028 as it tries to calm investors rattled by its borrowing and data-center spending. The Nvidia-backed AI cloud company reported third-quarter revenue of $3.66 billion, up from $1.37 billion a year earlier, while total debt reached $46.9 billion at the end of September. Its shares rose 5% in extended trading after the update. CoreWeave said it would avoid unsecured debt markets at current yields and expects to raise less than $5 billion in additional capital through 2027. The company also said it sees no material threat to its buildout from the post-midterm US regulatory outlook.