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CoreWeave shares fell more than 5% in premarket trading on Thursday, after the Nvidia-backed artificial intelligence company unveiled its capital expenditure plans to meet booming demand.
The data center operator, which went public in March, forecast its second-quarter capital expenditure would be in the range of $3 billion to $3.5 billion while revenue expectations were $1.06 billion to $1.1 billion.
CoreWeave’s management was optimistic about the demand for its services on the post-earnings call, but brokerage MoffettNathanson said “the cost of…
