CoreWeave
CoreWeave Inc. · CRWV
CoreWeave (Nasdaq: CRWV) is a US cloud company that rents out Nvidia GPU-packed data center capacity to AI developers, with revenue concentrated in a handful of large customers.
Company snapshot
- Listing
- Nasdaq: CRWV
- Founded
- 2017
- Headquarters
- Livingston, New Jersey, US
- Industry
- AI cloud infrastructure (GPU capacity)
- Website
- www.coreweave.com
What the company does
CoreWeave was founded in September 2017 and is headquartered in Livingston, New Jersey. It launched its cloud platform in 2020 and rents out computing capacity for training and running AI models. Rather than selling every kind of cloud service, it focuses on GPU infrastructure for AI. Its 10-K cites a record of being among the first to bring new generations of Nvidia GPUs to market at scale.
How it makes money
CoreWeave reports a single segment. Customers commit to GPU capacity under multi-year contracts, and those payments become revenue. In its 10-K for fiscal 2025, its top customer, Microsoft, accounted for about 67% of revenue. In 2025 it also signed an order with OpenAI worth up to about $6.5 billion. Buying data center capacity and GPUs takes heavy capital, so the company relies substantially on debt.
Why markets watch it
CoreWeave is often seen as the most direct listed read on the AI infrastructure build-out. Its results and contract backlog hint at compute demand from Big Tech and AI labs, and its capital spending plans hint at demand for Nvidia GPUs. Because it funds expansion with debt, it is sensitive to interest rates and credit market conditions, and with revenue concentrated in a few customers, a change at one large client can swing results.