CoreWeave CEO Michael Intrator told CNBC on Wednesday that he has canceled his 10b5-1 stock sale plan. He said the plan is "sidelined" until there is a "material change" in the company's equity pricing. He added that any further selling would be "just normal tax stuff."
Under the plan, announced in November 2025, Intrator sold 8.26 million shares at an average price of $96.14 per share, for a total of $794.2 million, according to the report.
The decision follows what the report describes as strong results. CoreWeave reported 168% year-over-year revenue growth, beat estimates and raised its 2026 forecast. Shares rallied 20% after the report, though they were still down 18% so far in 2026, and about 27% over the past month.
Intrator and his co-founders have faced criticism for their stock sales during the decline, the report says.
The company also said it still expects 1.85 gigawatts in active power by the end of 2026. It now targets $37 billion to $39 billion in full-year capital expenditures. Analysts polled by Visible Alpha had expected $37.69 billion.
The report links the share price pressure to rising interest rates and to the outcome of the Nov. 3 midterm elections. According to Ballotpedia, voters approved greater data center restrictions in 40 of 41 ballot measures in 10 states. Intrator said on the earnings call, "We do not anticipate any impact from the seismic regulatory shift that's occurred." J.P. Morgan Asset Management wrote that data center projects from 2028 onward are "most exposed" to uncertainty around permitting, power availability and financing.