CoreWeave's Q1 earnings are a live test of whether GPU cloud economics can survive the debt they created
CoreWeave reports Q1 2026 earnings today; analysts project $1.97B revenue (100%+ YoY growth), $0.91 EPS loss, 17% options move. $66.8B backlog, Meta $21B/Jane Street $6B contracts vs $29B debt, $30B capex, 6% operating margins in a live test of neocloud economics.