CoreWeave went into this print with a hot growth story and a stock that had already run hard. Then the earnings drop hit and the market punched the accelerator. The share price jumped about 19% to US$107.73, a sharp move for a company already priced on high expectations.

The reason sits squarely in the top line and in operating leverage. Revenue for the quarter landed at US$2.6b and adjusted earnings before interest, tax, depreciation and amortisation margin reached 59%. For an AI infrastructure stock built on heavy capital spending and visible losses, that combination is the real headline.

Love CoreWeave’s revenue scale and rich margins but uneasy about the capital intensity and future cash needs? Check out the 56 AI infrastructure…