CoreWeave CEO Intrator tells CNBC he has canceled his planned share sale program

Despite CoreWeave's sharp sell-off in the aftermath of last week's sweeping electoral victory for Democrats, CEO Mike Intrator said 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."

Tune in at 9:30 a.m. ET as CoreWeave CEO Mike Intrator joins CNBC TV to discuss the company's latest earnings report. Watch in real time on CNBC+ or the CNBC Pro stream.

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 40% 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."