FILE PHOTO: A screen displays the company logo for CoreWeave, Inc., Nvidia-backed cloud services provider, during the company's IPO at the Nasdaq Market, in New York City, U.S., March 28, 2025. REUTERS/Brendan McDermid/File Photo
(Reuters) -CoreWeave is looking to spend $20 billion to $23 billion this year on AI infrastructure and data center capacity, the Nvidia-backed company said on Wednesday, as it aims to meet the booming demand from clients, including Microsoft.
The heavy spending plan weighed on its shares, which fell 5% after surging as much as 11% on better-than-expected revenue in its first results as a public company after debuting on the Nasdaq in March.
