An investor in CoreWeave has filed for a shareholder class action against the cloud company, alleging that CoreWeave misled investors about its ability to meet customer demand for compute.

Filed by shareholder Raymond Masaitis on January 12, in the US District Court for the District of New Jersey, the suit draws specific attention to the recently revealed data center delays experienced by CoreWeave.

The data center delays were revealed during CoreWeave's November 2025 earnings call.

While the names of all parties (developer and end user) were not shared, a WSJ report in December suggested it was a campus in Denton, Texas, with OpenAI set to be the customer, and that other data centers from that provider might be affected by delays.

While the provider has not been named by CoreWeave, Core Scientific is known to be leasing a data center in Denton to CoreWeave. Core Scientific was previously set to be acquired by CoreWeave for $9bn, but failed to get enough shareholder votes in October.

Those reports said that the delays were caused by "heavy rains and winds" over the summer, which resulted in a 60-day construction pause as contractors were unable to pour concrete.

Despite these reports, AI-critic and former journalist Ed Zitron noted in a post on X that Denton, Texas, had not suffered from a particularly rainy period during the summer months. Citing historic weather reports, Zitron said the city only saw three thunderstorms over three months, and eight days with rain over 0.1 inches.

WSJ further suggested that other data centers were being delayed due to revised design plans.

Following the WSJ story and the earnings call admission, CoreWeave's share value took a significant hit and has yet to recoup its losses.

Internal Slack communications leaked yesterday - one day after the lawsuit was filed - sought to reassure that while previously delayed, the data center now houses some 16,000 GPUs ready for the customer.

The complaint filed by shareholder Masaitis ultimately accuses CoreWeave of a lack of transparency regarding the scope and severity of its delays.

As detailed by Law360, the suit states that CoreWeave only purchases infrastructure components and installs systems when paid by a client, and then only recognizes revenue when the installation is complete.

"Only a limited number of suppliers provide the components and materials necessary to construct these specialized data centers and their contents," the complaint says. "Nevertheless, CoreWeave consistently issued positive revenue guidance during the class period — even raising its guidance on one occasion - while steadily assuring investors that it was equipped to capitalize on the high customer demand for its AI services."

The lawsuit argues that throughout the class period - since the company's late-March IPO - CoreWeave has made "materially false and misleading statements" about its ability ot meet customer demand for its service, understated the "scope and severity of the risk" of its reliance on a "single third-party data center supplier" (Core Scientific), and that these were likely to impact CoreWeave's revenue negatively.

Thus, the plaintiff argues that the shares purchased during the class period were "artificially inflated."

DCD has reached out to CoreWeave for comment.