02:12 PM EDT, 08/13/2025 (MT Newswires) -- CoreWeave ( CRWV ) shares plummeted intraday Wednesday after the company posted a wider-than-expected second-quarter loss on Tuesday, though Tigress Financial said the company's upgraded outlook indicates continued demand acceleration.

The artificial intelligence cloud computing firm's per-share loss narrowed to $0.60 in the June quarter from $1.62 a year earlier, but missed the FactSet-polled consensus for a loss of $0.52. Revenue more than tripled to $1.21 billion year over year and exceeded the $1.08 billion consensus estimate.

The stock plunged 17% to $123.30 in Wednesday afternoon trade.

"CoreWeave ( CRWV ) continues to be a key AI and data center play with significant upside," Tigress Chief Market Strategist Ivan Feinseth said in a note e-mailed to MT Newswires. "I would be a more aggressive buyer on pullbacks below $120 a share."

The company's results showed unprecedented demand for its Nvidia ( NVDA ) graphics processing unit-powered cloud infrastructure, especially for training and deploying large-scale AI models, according to Feinseth.

"CoreWeave ( CRWV ) continues to experience accelerating demand as tech companies and enterprises build out next-generation AI applications," Feinseth said, citing significantly higher spending by the company's major clients, including OpenAI, Goldman Sachs ( GS ) , Meta Platforms ( META ) , Microsoft ( MSFT ) , and Morgan Stanley ( MS ) .

CoreWeave ( CRWV ) now expects full-year revenue of $5.15 billion to $5.35 billion, up from the previous guidance of $4.9 billion to $5.1 billion, Chief Financial Officer Nitin Agrawal said in a call with analysts late Tuesday, according to a FactSet transcript. The current consensus is for sales of $5.19 billion.

The company expects third-quarter revenue of $1.26 billion to $1.30 billion, the midpoint of which is below the consensus of $1.29 billion.

"We are entering the second half of the year in an excellent position with strong execution in delivering at scale for our customers, as well as execution in the capital markets and a robust backlog coupled with a very healthy demand pipeline," Agrawal said.

Last month, CoreWeave ( CRWV ) agreed to acquire Core Scientific ( CORZ ) in a deal that Tigress' Feinseth said would add additional scale and capabilities.

Price: 121.93, Change: -26.83, Percent Change: -18.03