CoreWeave, Inc. Class A (CRWV)

CoreWeave went public on the Nasdaq Global Select Market under the ticker symbol "CRWV" on March 28, 2025, at $40.00 per share. In March 2025, CoreWeave acquired Weights & Biases for approximately $1.7 billion, and OpenAI signed a five-year cloud-computing contract worth about $12 billion with CoreWeave, acquiring a $350 million stake. In February 2025, CoreWeave was reported to be the first cloud provider to make Nvidia GB200 NVL72 chips available via cloud computing. In May 2024, the company secured $1.1 billion in Series C funding and had a Conventional Debt round for $7.5 billion. In October 2024, CoreWeave secured a $650 million credit facility, and in November 2024, it raised $650 million in a secondary market round, valuing the company at $23 billion. The stock price reached $126.32 by November 3, 2025, with a market cap of $62.5 billion, but declined by almost 50% by November 24, 2025, bringing its market cap to around $35 billion. As of November 25, 2025, the share price was $71.29, representing an increase of 78.23% since its IPO. CoreWeave reported strong Q3 earnings as of November 24, 2025, with 134% year-over-year revenue growth and a backlog of over $55 billion.

Demand for CoreWeave's products and services is primarily driven by the rapidly accelerating need for GPU compute resources from cloud providers, large language model (LLM) companies, and various applications integrating generative AI features. The global GPU cloud market is experiencing significant growth, largely fueled by the AI/ML market, where generative AI products are compute-bound. CoreWeave's business saw a considerable surge in 2022 and 2023 due to the escalating market demand for AI processing and its strategic access to Nvidia GPUs, with revenue backlog substantially outpacing actual revenue growth. The demand for high-performance AI compute is consistently described as "relentless," suggesting a strong and ongoing need for its specialized infrastructure, with no specific seasonal fluctuations mentioned.

CoreWeave, Inc., founded in 2017 and headquartered in Livingston, New Jersey, is an American AI cloud-computing company specializing in cloud-based GPU infrastructure for AI developers and enterprises, and develops its own chip management software. It operates in the Technology sector, specifically in the Computer Software: Prepackaged Software and Software - Infrastructure industries, and is recognized as a specialized cloud infrastructure provider for large-scale GPU-accelerated workloads within the Cloud Computing Industry, particularly in Cloud GPU Services. CoreWeave's major offerings include GPU compute, CPU compute, bare metal servers, storage services, networking services, and managed services, along with the CoreWeave Cloud Platform, Weights & Biases AI Developer Platform, and solutions for AI model training, AI inference, and VFX & rendering.

CoreWeave operates data centers across the United States and Europe, with plans to have 28 facilities by the end of 2024 and 32 data centers with 250,000 GPUs in 2025. The company has offices in Livingston, New Jersey (headquarters), Bellevue, Washington; London, England; New York, New York; Philadelphia, Pennsylvania; and Sunnyvale, California. A significant expansion includes plans for a $6 billion AI data center in Lancaster, Pennsylvania.

CoreWeave generally maintains a positive brand reputation for its specialized GPU cloud services tailored for AI workloads, praised for high-performance NVIDIA GPUs, efficient model training, ease of use, and fast virtual server operations at competitive prices. Strategic partnerships, particularly with NVIDIA and OpenAI, and the acquisition of Weights & Biases have boosted its profile. However, the IPO was scaled back due to investor concerns, and there are concerns about customer concentration with Microsoft and dependence on Nvidia for hardware. The capital-intensive nature of its expansion and GPU depreciation have also led to discussions about financial vulnerabilities, and the platform can be challenging for teams without dedicated infrastructure expertise.

CoreWeave's ownership includes institutional investors holding approximately 45.39% to 52.21% of the stock, with major holders including Magnetar Financial LLC, Jane Street Capital LLC, Fidelity Management & Research Co. LLC, and NVIDIA CORPORATION. Other significant investors include Blackstone Group, Altimeter Capital, Morgan Stanley, and JPMorgan Chase. CoreWeave insiders own between 13.92% and 16.16% of the company, with CW Opportunity LLC being the largest individual shareholder. Co-founder and CEO Michael Intrator, Chief Development Officer Brannin McBee, and Chief Strategy Officer Brian Venturo are also significant individual owners. Public companies and individual investors collectively own 33.87% of the stock.