CoreWeave Becomes First To Deploy Nvidia's GB200 Grace Blackwell Systems At Scale — CRWV Stock Falls Over 6% Despite Beating Revenue Estimates

CoreWeave Inc. CRWV, a cloud platform purpose-built for artificial intelligence workloads, has announced a leap in its technological leadership, becoming the first to deploy Nvidia Corp.‘s NVDA cutting-edge GB200 Grace Blackwell systems at scale during the first quarter of 2025.What Happened: This milestone, revealed in the company’s inaugural earnings call as a public entity following its March IPO, underscores CoreWeave’s commitment to providing the most advanced infrastructure for AI innovation.This strategic acquisition significantly expands CoreWeave’s reach within the AI ecosystem and positions it as a comprehensive solution provider for AI development, from infrastructure to developer tools.“We are off to an amazing start in 2025,” said Michael Intrator, CEO of CoreWeave. “Our financial performance combined with the continued strong trajectory of customer growth and technical achievements demonstrate outstanding execution by our team. Being the first to deploy GB200 Grace Blackwell systems at scale underscores our commitment to delivering superior performance and efficiency to our customers.”The deployment of Nvidia’s GB200 NVL72 instances at scale on CoreWeave’s AI cloud platform supports leading AI developers such as Mistral AI, IBM, and Cohere, enabling them to push the boundaries of AI model training and inference.Adding to the impressive first-quarter achievements, CoreWeave also completed its acquisition of Weights & Biases, a leading platform for AI developers.“We announced and completed our acquisition of Weights & Biases, one of the industry’s leading platforms for AI developers with more than 1,400 customers. We are confident our combined companies will allow us to provide additional value to our joint customer base,” CEO Intrator added.Why It Matters: The first-quarter revenue of $981.63 million was up 420% year-on-year, beating analyst estimates of $859.77 million, according to Benzinga Pro. The company reported a first-quarter adjusted loss of $1.49 per share. CNBC’s Jim Cramer also praised the robust earnings from CoreWeave in an X post.Looking ahead, CoreWeave provided strong guidance for the second quarter, projecting revenue in the range of $1.06 billion to $1.1 billion. The company also raised its full-year 2025 revenue guidance to $4.9 billion to $5.1 billion, reflecting the strong demand and the inclusion of the backlog from the OpenAI contract.Price Action: CRWV shares ended 6.64% higher on Wednesday and dropped 6.2% during the premarket trading. The company has advanced 68.65% since its listing in March.The SPDR S&P 500 ETF Trust SPY and Invesco QQQ Trust ETF QQQ, which track the S&P 500 index and Nasdaq 100 index, respectively, ended higher on Wednesday. The SPY was up 0.13% to $587.59, while the QQQ advanced 0.60% to $518.68, according to Benzinga Pro data.Benzinga Edge Stock Rankings shows that CRWV had a stronger price trend over the short, medium, and long term. Its value ranking was poor at the 13.86th percentile; the details of other metrics are available here. DOE Warns Of Hidden Risks As Chinese Devices In Power Inverters Sparks National Security Concerns: 7 Stocks That Could Be In Focus Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.Image Via Shutterstock