Michael Intrator, co-founder and chief executive officer of CoreWeave Inc., at the Bloomberg Tech summit in London, UK, on Tuesday, Oct. 21, 2025.
Chris J. Ratcliffe | Bloomberg | Getty Images
CoreWeave CEO Michael Intrator told CNBC on Wednesday that he has canceled his 10b5 stock sale plan after the company reported strong revenue growth and beat Q3 expectations.
“Until there is a material change in in, in our equity pricing, my 10b5 has been sidelined,” he told CNBC’s “Squawk on the Street.”
He said any further selling would be “just normal tax stuff.”
Under Intrator’s 10b5-1 plan announced in November 2025, the CEO has sold 8.26 million shares at an average price of $96.14 per share for a total of $794.2 million.
Intrator and his co-founders have faced criticism for their stock sales as the company’s stock has struggled, with shares down 18% so far in 2026 despite a 20% post-earnings rally on Wednesday.
The company has faced further pressure from the sell-off in the aftermath of last week’s sweeping electoral victory for Democrats, but Intrator told investors on the earnings call that the company isn’t worried about the political changes on the horizon.
“We do not anticipate any impact from the seismic regulatory shift that’s occurred,” Intrator said on his company’s earnings call late Tuesday, in response to a question about new pressures after the election. “We believe that what has occurred is a statement around how you build. We want to build responsibly.”
Intrator’s comments came after CoreWeave reported 168% year-over-year revenue growth, beating estimates, and lifted its forecast for 2026. The stock rallied in extended trading, as the report offered some relief to investors, who have pushed the shares down about 27% over the past month.
Rising interest rates and an unfavorable political environment have fueled concerns that the artificial intelligence boom is poised to cool and that companies like CoreWeave will struggle to raise capital.
In the Nov. 3 midterm elections, voters sided in favor of greater restrictions on data centers in 40 out of 41 ballot measures in 10 states, according to Ballotpedia. Democrats won control of both houses of Congress and were victorious in governors’ races in critical AI infrastructure states like Texas, Ohio and Georgia. In each state, the winning candidate favors some restrictions on new data centers.
J.P. Morgan Asset Management wrote in a report after the election that data center projects from 2028 onward are “most exposed,” and “face greater uncertainty around permitting, power availability and financing.”
But CoreWeave says it’s not slowing down. The company said it still anticipates 1.85 gigawatts in active power by the end of 2026, and it’s now targeting $37 billion to $39 billion in full-year capital expenditures, implying 155% growth at the middle of the range. Analysts polled by Visible Alpha were looking for $37.69 billion.
“We are very comfortable with our pipeline,” Intrator said, adding that the message from voters isn’t a deterrent because the company is always conscious about “being good neighbors.”
“We think that that is an opportunity for us to continue to scale our business within the new political reality that exists,” Intrator said.
—CNBC’s Nick Wells contributed to this article.
