$CRWV CoreWeave's adjusted operating income tripled in one quarter to $379M, beating its own $200-260M guide by about $150M. Backlog jumped to $132.5B. The bill that still hasn't moved is interest: $846M this quarter, and guided to $1.05-1.15B for Q4. The quarter Revenue $3.66B, up 168% YoY, above the top of the $3.45-3.60B guide. Consensus was $3.54B. Adjusted EBITDA $2.26B, a 62% margin (Q2: 59%). GAAP operating income $207M, up from a $49M loss in Q2. EPS -$1.27 vs -$1.55 consensus. Guidance is up Full-year 2026 revenue now $13.0-13.3B, from $12.4-13.2B. After the first three quarters, that puts Q4 at roughly $4.69-4.99B. Consensus was $4.70B, which is the bottom of that range. Full-year adjusted operating income $1.275-1.375B, 26% higher at the midpoint than the old guide. Capex $37-39B for the year, low end raised from $35B. Exit-2026 annualized run-rate revenue $20-21B, from $18.5-19.5B. The interest bill Adjusted operating income covered 45% of net interest expense in Q3, up from 20% in Q2. Using the new full-year guide, Q4 adjusted operating income comes out at roughly $750-850M, still below the $1.05-1.15B interest guide. Capacity Active power over 1.7 GW, up more than 200 MW in the quarter. Year-end target stays at more than 1.85 GW. Contracted power over 4.6 GW, up more than 900 MW. Backlog $132.5B, up 27% from $104B at the end of Q2. Stock is $51.71 after hours, up 6% from the $48.77 close (4:08pm ET). For the 5pm ET call: C1 Q4 revenue: why does the implied $4.69-4.99B start right at consensus, and what decides where in the range it lands? C2 Power: only about 150 MW more by year-end after 200 MW+ in Q3. Is that caution, or are sites slipping? C3 Interest: what rate is the new $4.2B of convertibles and the $2.6B DDTL costing, and when does operating income pass interest? C4 Backlog: how much of the $28B added in Q3 came from OpenAI and the other top customers? C5 Capex: how much of the $37-39B is already funded?