By Mackenzie Tatananni
CoreWeave insiders raked in millions as the company's shares surged, even as the cloud provider's financial picture grows increasingly complex.
A securities filing shows board member Karen Boone sold 1,060 shares for $108.23 apiece, or $114,723 in total, on Tuesday. Boone directly owned 7,300 CoreWeave shares after the transaction, valued at $780,078 based on Thursday's closing price of $106.86.
Boone also held 10,520 shares in a family trust, which she sold across three separate transactions at prices ranging from $107 to $108, amounting to $1.1 million.
Another board member, Jack Cogen, sold shares on Tuesday. Cogen sold a combined 986,540 indirectly owned shares across five trusts and holding companies that he manages, fetching a total of $106 million. Cogen directly owns 261,140 shares, worth nearly $28 million.
CoreWeave stock has jumped 45% this year. The Nasdaq Composite and S&P 500 are up 16% and 11%, respectively.
The company has thrived amid the buildout of artificial-intelligence data centers, but its multibillion-dollar revenue backlog poses a contrast to its widening losses and heavy debt load.
First-quarter earnings revealed a $740 million loss -- more than double the deficit in the same period last year and the widest in CoreWeave's short history as a public company. Its contracted revenue backlog reached $99.4 billion in the quarter, fueled by a $21 billion agreement with Meta Platforms.
CoreWeave's capital expenditures, funded primarily through debt, are projected to reach $31 billion to $35 billion this year. By the end of the first quarter, CoreWeave held $25 billion in debt alongside $10 billion in lease liabilities. Competition from the likes of Nebius Group and Lamba, two so-called neoclouds that specialize in high-density GPU compute, is another concern.
CoreWeave's chief financial officer spoke about the competition at a recent conference. "I'm sure some of these new players would be reasonably successful, and I'm sure some of them would not be," Nitin Agrawal said on Thursday.
Inside Scoop is a regular Barron's feature covering stock transactions by corporate executives and board members -- so-called insiders -- as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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May 29, 2026 12:17 ET (16:17 GMT)
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