CoreWeave Soars After Microsoft Reports Higher CapEx

CoreWeave shares surged more than 12%, buoyed by strong earnings reports from two of its largest customers—Microsoft and Meta—Yahoo Finance's Laura Bratton reported on July 31.

Microsoft accounts for 72% of CoreWeave’s revenue. I Photo: CoreWeave X

Microsoft, which accounts for 72% of CoreWeave’s revenue, reported it spent $88.2 billion in its fiscal year 2025, surpassing its earlier forecast of $80 billion. The total represented a 58% year-over-year increase in capital expenditures. The tech giant said spending will grow at a slower pace in fiscal year 2026.

In the first quarter of FY2026, Microsoft expects to spend $30 billion—up 50% from the same period last year.

“We will continue to invest against the expansive opportunity ahead across both capital expenditures and operating expenses, given our leadership position in commercial cloud, strong demand signals for our cloud and AI offerings, and significant contracted backlog,” said Microsoft CFO Amy Hood during the company’s earnings call.