CoreWeave Maintains AI Buildout Despite Democratic Election Sweep

CoreWeave CEO Mike Intrator announced that the company will maintain its infrastructure buildout despite a "new political reality" following the November 3 midterm elections. The elections resulted in a sweeping Democratic victory, including control of both houses of Congress and governorships in key AI infrastructure states such as Texas, Ohio, and Georgia. Voters also supported restrictions on data centers in 40 of 41 ballot measures across 10 states.

While J.P. Morgan Asset Management warned that data center projects scheduled for 2028 and beyond face increased uncertainty regarding financing and permitting, CoreWeave remains aggressive in its expansion. The company reported 168% year-over-year revenue growth and raised its 2026 forecast.

CoreWeave is targeting between $37 billion and $39 billion in full-year capital expenditures. The company maintains its objective of reaching 1.85 gigawatts in active power by the end of 2026.