Editor’s Note: The story has been refreshed with the latest market price action and a revised headline.

CoreWeave Inc. (NASDAQ:CRWV) raised prices across its artificial intelligence computing offerings in July and is passing along rising hardware costs to customers, as demand continues to accelerate.

A Quarter of Pricing Power

CFO Nitin Agrawal told analysts on Tuesday’s earnings call that the increase was “an approximately 25% increase across SKUs in response to the current demand environment.”

He added that CoreWeave is separately passing through rising component costs to customers, including pricier GPUs, layering hardware inflation on top of the base price hike.

The company…