AI computing power service provider CoreWeave revenues increased by 420% in Q1, but Q2 profits fell short of expectations.

Wisdom Financial APP learned that the new cloud computing giant CoreWeave (CRWV.US) handed in its first report card after going public, but encountered a vote of no confidence from the capital market due to profits falling below expectations. The computing power service provider backed by OpenAI disclosed after the market closed on Wednesday that although second quarter revenue is expected to reach $10.6-11 billion (higher than the market's expected $10.4 billion), the operating profit range is only $1.4-1.7 billion, significantly below analysts' forecast of $1.92 billion. Financial data shows that CoreWeave's first quarter revenue increased by 420% year-on-year to $9.82 billion, higher than the market's general expectation of $8.62 billion. However, the rapid business expansion also brought pains: the loss per share for the quarter widened to $1.49, doubling from 62 cents in the same period last year.