CoreWeave (CRWV) shares surged more than 12% Thursday on the heels of strong earnings reports from two of its customers, Microsoft (MSFT) and Meta (META).
Microsoft is CoreWeave’s largest customer, accounting for 72% of its revenue in the burgeoning cloud provider’s most recent quarterly earnings report. Microsoft spent $88.2 billion in its fiscal year 2025, ahead of the $80 billion it previously forecast. That figure represented a 58% increase in the tech giant’s spfinishing from the prior year.
Microsoft stated its spfinishing will grow at a slower pace in its 2026 fiscal year. During the first quarter, it expects to spfinish $30 billion, a 50% increase from the prior year.
“We will continue to invest against the expansive opportunity ahead across both capital expfinishitures and operating expenses given our leadership position in commercial cloud, strong demand signals for our cloud and AI offerings, and significant contracted backlog,” Microsoft CFO Amy Hood stated in an earnings call with analysts.
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