CoreWeave CEO notes strong backlog in memo to reassure staff over market scrutiny

Oct 14 (Reuters) — CoreWeave CEO Mike Intrator said on Wednesday market can sometimes "misunderstand and act irrationally", with shares of the AI cloud-computing provider closing down around 15%. Here are some details: The company's deal backlog is large enough to more than support its debt obligations, Intrator told employees in a memo that was seen Issues such as the difficulties and delays observed in the attempted IPOs and debt financings of some of CoreWeave's rivals "are bleeding into the narrative around CoreWeave", Intrator said in the memo 2 billion in the second quarter, up from $99.4 billion in the first quarter On top of the backlog, the company said it had secured more than $25 billion of net new customer commitments in the third quarter (Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi Majum