CoreWeave Cuts Revenue Forecast After Data Center Delay, Shares Drop

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CoreWeave (CRWV.O), a cloud infrastructure company backed by Nvidia, trimmed its annual revenue forecast on Monday after delays at a third-party data center partner disrupted operations, overshadowing strong quarterly results driven by soaring demand for AI computing services.

Shares fell more than 6% in extended trading, after Chief Financial Officer Nitin Agrawal forecast 2025 revenue between $5.05 billion and $5.15 billion, down from a previous estimate of $5.15 billion to $5.35 billion. Analysts had expected around $5.29 billion, according to data from LSEG.

CoreWeave said the customer impacted by the delay agreed to extend the contract’s expiration date, ensuring the total deal value remains intact, though the company did not name the client.

Despite the setback, the company posted a strong September quarter, with revenue more than doubling to $1.36 billion, beating Wall Street expectations of $1.29 billion.

CoreWeave has emerged as a major infrastructure provider for AI-driven workloads, securing high-profile contracts such as a $14 billion deal with Meta Platforms and a $6.5 billion partnership with OpenAI, both of which rely on its vast GPU-powered cloud network.

Once focused on Ethereum mining, CoreWeave has successfully repurposed its powerful GPU infrastructure to fuel the global AI cloud boom. However, its rapid growth has also exposed challenges — including rising chip prices, competition for computing capacity, and high expansion costs.

The company now expects to more than double capital spending next year, investing between $12 billion and $14 billion to meet surging demand.

CoreWeave shares have more than doubled since going public earlier this year at $40 per share, giving the firm a market capitalization above $50 billion, though its operating margin slipped to 16% in Q3 from 21% a year earlier.

Apple Reportedly Delays Next iPhone Air Launch Amid Weak Sales

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Apple has reportedly decided to delay the next version of its iPhone Air until after fall 2026, according to a report from The Information, citing sources familiar with the matter.

The move comes just a year after Apple introduced the iPhone Air (2025), a thinner and lighter addition to its flagship lineup designed to appeal to consumers seeking a sleek, minimalist form factor. However, analysts say demand for the model has been weaker than expected, raising concerns about the market appetite for design-focused variants that make performance trade-offs.

While praised for its elegant design, the iPhone Air’s smaller battery and pared-down camera system were viewed by some consumers as compromises compared to the iPhone Pro and Pro Max models.

Apple has not commented on the report, and Reuters said it could not independently verify the delay.

In October, Apple announced that the iPhone Air would be available for pre-order in China, following regulatory approval for eSIM-only connectivity, meaning the model is sold without a physical SIM tray.

The delay signals that Apple may be reassessing its strategy for the Air model as global smartphone demand remains under pressure and competition intensifies in China and other key markets.

Coinbase Unveils Platform for Early Access to New Digital Tokens

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Coinbase Global has announced the launch of a new token sales platform that will give retail investors the opportunity to purchase digital tokens before they are listed on the exchange — marking the first major public token sale opportunity for U.S. users since 2018.

The company’s shares rose about 4% in morning trading following the announcement, reflecting growing optimism over Coinbase’s efforts to tap into the multi-trillion-dollar digital asset market.

The new platform will host around one token sale per month, using an algorithm-based allocation system to determine how tokens are distributed among investors. Buyers will have a one-week window to submit their purchase requests.

“Token issuers coming to market today struggle to get their tokens into the hands of real users while building deep exchange liquidity. Coinbase is changing that,” the exchange said in a company blog post.

Investors will be able to pay for purchases in USD Coin (USDC), a dollar-pegged stablecoin issued by Circle Internet Group, according to the Wall Street Journal, which first reported the launch.

The first project to debut on the platform will be Monad, a blockchain startup that plans to hold its token sale next week. Coinbase said additional features such as limit orders and larger allocations for target user bases will be introduced in the coming months.

The move comes as interest from both retail and institutional investors in digital assets continues to grow, driving major exchanges like Coinbase to expand their product offerings and reclaim ground from global competitors.