CoreWeave Says Texas Capacity Unaffected by Election as Backlog Hits $132.5B
CoreWeave's CEO told CNBC that most of its Texas capacity is already online or permitted, so the Democratic midterm sweep will not dent its $132.5B backlog. Q3 revenue reached $3.66B, up 168%, with 2026 guidance raised to $13.0B-$13.3B. Yet interest expense climbed to $846M against 2026 capex of $37B-$39B, making cash the tighter constraint.
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Rohan Paul (@rohanpaul_ai) · 2026-11-11 15
CoreWeave’s CEO on CNBC: most Texas capacity is online or permitted despite the Democratic sweep.
says the Democratic midterm sweep won’t hit its $132.5B backlog, citing sites already permitted or under construction.
The reassurance came with third-quarter revenue of $3.66B, up 168%, and a raised 2026 forecast of 13.3B.
The shares, down 40% in a month, jumped about 19% Wednesday. Although, cash is the tighter constraint: third-quarter interest expense hit $846M, up from $310M a year earlier, against 2026 capex of 39B.
CoreWeave plans no new parent-level unsecured debt through 2027, leaning on contract-backed term loans expected to cost 7% to 7.5%.
