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CoreWeave CEO cancels planned share sale program
CNBC • • business
Key Points:
- CoreWeave CEO Michael Intrator has canceled his 10b5 stock sale plan after the company reported strong Q3 revenue growth, beating expectations and raising its 2026 forecast.
- Intrator has sold 8.26 million shares under the plan since November 2025, totaling $794.2 million, but any future sales will be limited to normal tax-related transactions.
- Despite political shifts favoring greater restrictions on data centers and concerns over rising interest rates, CoreWeave remains optimistic and plans significant capital expenditures of $37 billion to $39 billion in 2026.
- The company reported 168% year-over-year revenue growth and expects to reach 1.85 gigawatts in active power by the end of 2026, emphasizing responsible growth within the new regulatory environment.
- Intrator downplayed concerns about the political landscape following the Democratic electoral victories, stating CoreWeave sees opportunities to scale its business while being mindful of community impact.
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