Despite a sharp sell-off in CoreWeave’s shares following last week’s sweeping Democratic electoral victories, CEO Mike Intrator said the company is not concerned about the political developments on the horizon.
“We do not anticipate any impact from the seismic regulatory shift that’s occurred,” Intrator said during the company’s earnings call Tuesday, in response to a question about new pressures after the election. “We believe that what has occurred is a statement around how you build. We want to build responsibly.”
His comments came after CoreWeave reported 168% year-over-year revenue growth, which beat estimates, and raised its forecast for 2026. The stock rallied in extended trading, as the report offered some relief to investors who had pushed the shares down 40% over the past month.
Rising interest rates and an unfavorable political environment have fueled concerns that the artificial intelligence boom is poised to cool and that companies like CoreWeave will struggle to raise capital.
In the Nov. 3 midterm elections, voters favored greater restrictions on data centers in 40 out of 41 ballot measures across 10 states, according to Ballotpedia. Democrats won control of both houses of Congress and were victorious in governor’s races in critical AI infrastructure states such as Texas, Ohio and Georgia. In each state, the winning candidate favored some restrictions on new data centers.
J.P. Morgan Asset Management wrote in a report after the election that data center projects from 2028 onward are “most exposed,” and “face greater uncertainty around permitting, power availability and financing.”
But CoreWeave says it is not slowing down. The company said it still anticipates 1.85 gigawatts in active power by the end of 2026 and is now targeting $37 billion to $39 billion in full-year capital expenditures, implying 155% growth at the middle of the range. Analysts polled by Visible Alpha were looking for $37.69 billion.
“We are very comfortable with our pipeline,” Intrator said, adding that the message from voters is not a deterrent because the company is always conscious about “being good neighbors.”
“We think that that is an opportunity for us to continue to scale our business within the new political reality that exists,” Intrator said.
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