¿Estarán las acciones de CoreWeave perdiendo impulso en el año 2025?

The question of whether CoreWeave (CRWV) is losing momentum in 2025 hinges on a delicate balance between its explosive revenue growth and the structural risks inherent in the cloud computing infrastructure sector. While the company has demonstrated remarkable financial progress- reporting a 134% year-over-year revenue increase to $1.36 billion in Q3 2025 and narrowing its net loss to $110 million-its stock has faced headwinds, including a 10% premarket decline following a data-center delay that pushed part of its 2025 capital expenditures into 2026. This volatility underscores the tension between near-term execution risks and long-term growth potential in the AI-driven cloud infrastructure market.

Earnings Outperformance vs. Guidance Cuts

CoreWeave's Q3 2025 results were a technical triumph, with revenue exceeding Wall Street estimates by $70 million and adjusted EBITDA surging to $838 million. These figures reflect the company's dominance in AI infrastructure, evidenced by a $55.6 billion revenue backlog and high-profile contracts with Meta ($14.2 billion) and OpenAI ($22.4 billion). However, the stock's post-earnings decline highlights investor skepticism about the company's ability to meet revised full-year revenue guidance of $5.05–$5.15 billion. The delay in delivering capacity to a key customer, attributed to a third-party data-center developer, has raised concerns about supply chain bottlenecks and project management risks.

Industry Positioning: A Neocloud Powerhouse

CoreWeave's strategic positioning as a neocloud provider-specializing in AI-focused infrastructure-has been a key differentiator. The company's partnership with NVIDIA to scale GPU infrastructure and its acquisition of OpenPipe align with the sector's shift toward hyper-specialized cloud solutions. Analysts note that CoreWeave's 590 MW of active power and $6.3 billion in infrastructure investments position it to capitalize on the AI boom, with expectations of $1.6 billion in earnings by 2028. Yet, this growth trajectory depends on overcoming physical constraints such as power availability and hardware shortages, which are industry-wide challenges.

Structural Risks in the Cloud Infrastructure Sector

The cloud computing landscape in 2025 is defined by dual pressures: surging demand for AI workloads and infrastructure limitations. CoreWeave, like its peers, faces capacity constraints exacerbated by the energy-intensive nature of GPU-based computing. Hybrid and multi-cloud strategies are emerging as mitigants, but they also fragment market share and complicate vendor lock-in dynamics. For CoreWeave, the risk is twofold: its aggressive CapEx plans (including $1.6 billion in 2026 investments) could strain liquidity, while competitors like AWS and Microsoft Azure are accelerating AI-native offerings to retain enterprise clients.

Near-Term Catalysts and the Path Forward

Despite these risks, several catalysts could reignite CoreWeave's momentum. First, the company's $55.6 billion backlog ensures a steady pipeline of revenue, particularly as AI adoption accelerates in 2026. Second, its strategic focus on proprietary technologies-such as OpenPipe-positions it to capture a larger share of the AI training market, which is projected to grow at a 35% CAGR. Finally, the broader trend of FinOps frameworks and cost optimization in cloud spending could favor CoreWeave's pay-as-you-go model, which aligns with enterprises' desire to avoid overprovisioning.

Conclusion: A High-Risk, High-Reward Play

CoreWeave's stock is not necessarily losing momentum, but its trajectory remains contingent on navigating near-term execution risks. The data-center delay and guidance cut highlight vulnerabilities in its supply chain and project timelines, yet the company's financial performance and industry positioning suggest resilience. For investors, the key question is whether CoreWeave can scale its infrastructure without compromising profitability-a challenge shared by the entire cloud sector in 2025. While the path to $1.6 billion in earnings by 2028 is plausible, it will require disciplined capital allocation and continued innovation in a rapidly evolving market.