CoreWeave hits power snags
CoreWeave’s stock plunged ~16% after contractor delays in power hookups forced management to slash revenue guidance and cut capex guidance — posts also flagged a class‑action lawsuit tied to the turmoil (x.com). The thread maps the practical pain points of scaling GPU infrastructure — construction, utilities, and coordinating GPU supply — that are stalling time‑to‑scale for neoclouds.
CoreWeave lowered full‑year 2025 revenue guidance to $5.05–$5.15 billion, down from a prior range that topped out at $5.35 billion, and cut 2025 capital‑expenditure guidance to $12–$14 billion from an earlier $20–$23 billion plan. (proactiveinvestors.com) Management attributed the change to timing on a single third‑party “powered‑shell” data‑center delivery that pushed capacity into Q1 2026 ([finance.yahoo.com)], and The Wall Street Journal reported the delays centered on Core Scientific’s Denton, Texas cluster where weather and design revisions stalled concrete pours for about 60 days. (morningstar.com) The stock fell roughly 16% the day after the guidance cut — sliding from $105.61 to $88.39 on November 11, 2025 — and later lost about $14 billion in market value between the November guidance hit and mid‑December. (prnewswire.com) Multiple plaintiff firms, including Pomerantz LLP and Hagens Berman, filed securities class‑action complaints alleging CoreWeave misled investors about construction delays; Pomerantz’s case is docketed in the Western District of Texas as 26‑cv‑00355 and covers the March 28–Dec. 15, 2025 class period. (prnewswire.com) Operationally, CoreWeave reported adding ~120 MW of active power in Q3 to reach ~590 MW active and about 2.9 GW of contracted power, with a revenue backlog that ballooned to roughly $55.6 billion despite the timing hit. (investors.coreweave.com) Since the disclosures, CoreWeave has pushed hardware into delayed shells — reporting the deployment of more than 16,000 GPUs at the Denton site by mid‑January — and NVIDIA announced a $2 billion equity investment and expanded partnership to accelerate a planned >5 GW buildout by 2030. (datacenterdynamics.com)
