Michael Intrator, co-founder and CEO of CoreWeave Inc., at the Bloomberg Tech Summit in London, UK, Tuesday, October 21, 2025.
Chris J. Ratcliffe | Bloomberg | Getty Images
CoreWeave CEO Michael Intrator told CNBC on Wednesday that he canceled his 10b5 stock sale plan after the company reported strong revenue growth and beat third-quarter expectations.
“Until there is a material change in the valuation of our stocks, my 10b5 has been shelved,” he told CNBC’s “Squawk on the Street.”
He said any further sales would be “simply a matter of normal taxation”.
As part of Intrator’s 10b5-1 plan announced in November 2025, the CEO sold 8.26 million shares at an average price of $96.14 per share for a total of $794.2 million.
Intrator and its co-founders have been criticized for their stock sales as the company’s shares have struggled, with shares down 18% so far in 2026 despite rising 20% after earnings on Wednesday.
The company faced renewed liquidation pressure following Democrats’ big election victory last week, but Intrator told investors on the earnings conference call that the company was not worried about political changes on the horizon.
“We don’t anticipate any impact from the seismic regulatory shift that has occurred,” Intrator said during his company’s earnings conference call Tuesday evening, in response to a question about new pressures after the election. “We think what happened is a statement about how you build. We want to build responsibly.”
Intrator’s comments came after CoreWeave reported 168% year-over-year revenue growth, beating estimates, and raised its forecast for 2026. The stock rebounded in extended trading as the report offered some relief to investors, who sent shares down about 27% over the past month.
Rising interest rates and an unfavorable political environment have fueled fears that the artificial intelligence boom is about to slow and that companies like CoreWeave will struggle to raise capital.
In the Nov. 3 midterm elections, voters favored tighter restrictions on data centers in 40 of 41 ballot measures in 10 states, according to Ballotpedia. Democrats took control of both houses of Congress and won gubernatorial elections in states with critical AI infrastructure like Texas, Ohio, and Georgia. In each state, the winning candidate favors certain restrictions on new data centers.
JP Morgan Asset Management wrote in a report after the election that data center projects starting in 2028 are “the most exposed” and “face greater uncertainty regarding permitting, power availability and financing.”
But CoreWeave says it’s not slowing down. The company said it still expects 1.85 gigawatts of active power by the end of 2026 and is now targeting $37 billion to $39 billion in capital spending for the full year, implying 155% growth in the middle of the range. Analysts surveyed 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 still concerned with “being good neighbors.”
“We believe this is an opportunity for us to continue to grow our business within the current new political reality,” Intrator said.
—CNBC’s Nick Wells contributed to this article.
WATCH: Resolutely optimistic about CoreWeave
Gn bussni
