CoreWeave CEO says midterm results won’t dent $132.5 billion backlog
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CoreWeave CEO Michael Intrator said the company’s $132.5 billion backlog will not be affected by the U.S. midterm election results, reaffirming confidence in its AI cloud contracts. The remarks come as the AI infrastructure provider continues expanding its data center footprint to support demand for GPU compute. CoreWeave, which went public in 2025, has become a key supplier of Nvidia-based cloud capacity to AI developers and enterprises. Investors are watching whether the company can convert its large contracted backlog into revenue on schedule amid capacity constraints and rising competition.
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