CoreWeave
What matters nowUpdated 7 h ago
- Northland Securities raised its CoreWeave price target to $200 from $165 on Oct 8 and kept its Outperform rating, naming the stock a top pick among neocloud providers 1. On Oct 7 CoreWeave said it will build 240 MW of AI capacity at AdaniConneX's Taloja campus in India, with the first phase expected in mid-2028 2.
- The pooled 24/7 venue price was $77.62 on Oct 13, down 2.18% from the $79.35 previous close. The stock fell 7.73% on Oct 8, the day AI infrastructure stocks dropped after OpenAI put annualized revenue near $50 billion 3, and it fell 4.83% on Oct 12.
- Trailing revenue was $7.59 billion to June 30, 2026, with a 67.4% gross margin, a -25.4% net margin and -$13.66 billion of trailing free cash flow, and revenue grew 112.5% year over year in the latest quarter. At a $42.8 billion market cap the stock trades at 5.6 times sales and 11.4 times EV/EBITDA. Contracted power is about 4.2 GW after more than $25 billion of new commitments in early Q3 at roughly $40 million of annualized revenue per megawatt 4.
- Insiders sold 15.6 million shares worth $1.53 billion in 106 transactions over the last 180 days, with no insider buys and 75 of the sales made under plans. CoreWeave priced an upsized $3.7 billion 2.875% convertible notes offering due 2033 on Sep 18 5.
- Q3 2026 earnings are expected on Nov 10, 2026, and Q4 and full-year 2026 results on Feb 25, 2027, neither confirmed. Polymarket odds for the Fed after its October 2026 meeting give 81.5% to no change and 17.5% to a 25 bp increase. September CPI is due Oct 14 at 12:30 UTC.
TipRanks · Oct 8
CoreWeave Investor Relations · Oct 7
CNBC · Oct 8
CoreWeave Investor Relations · Sep 17
CoreWeave Investor Relations · Sep 18
CoreWeave runs a cloud built for AI workloads: large fleets of Nvidia GPUs in its own data centers, rented to AI labs, enterprises and other AI builders. It started as a crypto-mining operator in New Jersey and listed on Nasdaq in March 2025. By the end of 2025 it operated 43 data centers with more than 850 MW of active power. Microsoft was its largest customer in 2025, at about 67% of revenue, so its results depend heavily on a few large contracts.
How it makes money
CoreWeave earns revenue by selling GPU compute capacity on multi-year contracts, plus software and services that run on that capacity: managed Kubernetes, Slurm on Kubernetes, orchestration tools and developer products. Most of its cost is the data-center capacity and GPUs it buys or leases, so growth requires large upfront capital spending, which it funds with debt and equity. Its remaining performance obligations, the contracted revenue not yet recognized, were $60.7 billion at December 31, 2025, and its revenue backlog was about $104 billion at June 30, 2026.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
CoreWeave Cloud
Active power grew by nearly 500 MW in Q2 2026 to 1.5 GW, with about 3.7 GW contracted.
Weights & Biases
Owned by CoreWeave since May 2025 as its developer tools business.
OpenPipe and serverless reinforcement learning
Serverless reinforcement learning for training AI agents, launched in October 2025.
Mission Control
In production as CoreWeave's own software for orchestration, monitoring and cluster lifecycle management.
Latest newsAll news →
Northland raises CoreWeave price target to $200 and names it a top pick
Northland Securities raised its CoreWeave price target to $200 from $165 and kept its Outperform rating, naming the stock a top pick among neocloud providers.
AI infrastructure stocks fall after OpenAI puts annualized revenue near $50 billion
OpenAI told investors its annualized revenue was about $50 billion at the end of September, below the roughly $68 billion to $70 billion figure that had circulated in late September.
CoreWeave to build 240 MW of AI capacity in India with AdaniConneX
CoreWeave plans 240 MW of AI data-center capacity at AdaniConneX's Taloja campus in Navi Mumbai, its first facilities in India.
CoreWeave launches Forge, combining Weights & Biases, OpenPipe and marimo
CoreWeave launched Forge, a development platform that merges Weights & Biases Models, OpenPipe post-training and the open-source marimo notebook project.
CoreWeave makes Nvidia Vera Rubin NVL72 available, with Cognition as first production customer
CoreWeave announced Vera Rubin NVL72 availability on its cloud at its Fully Connected conference, naming Cognition as the first customer running production workloads on the system.
CoreWeave prices upsized $3.7 billion 2.875% convertible notes due 2033
CoreWeave priced an upsized $3.7 billion private offering of 2.875% convertible senior notes due April 1, 2033, up from an initial $3.0 billion.
Products & businesses
CoreWeave Cloud
Active power grew by nearly 500 MW in Q2 2026 to 1.5 GW, with about 3.7 GW contracted.
Weights & Biases
Owned by CoreWeave since May 2025 as its developer tools business.
OpenPipe and serverless reinforcement learning
Serverless reinforcement learning for training AI agents, launched in October 2025.
Mission Control
In production as CoreWeave's own software for orchestration, monitoring and cluster lifecycle management.
SUNK (Slurm on Kubernetes)
Offered to large AI research and training teams that run Slurm-based clusters.
CoreWeave Kubernetes Service
Managed Kubernetes for GPU workloads, sold as part of CoreWeave Cloud.
marimo
Open-source, AI-native notebook acquired in October 2025.
Monolith
Industrial simulation and machine-learning platform acquired in November 2025.
Valuation & fundamentals
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q2 FY2026 2026-06-30 | Q1 FY2026 2026-03-31 | Q4 FY2025 2025-12-31 | Q3 FY2025 2025-09-30 | Q2 FY2025 2025-06-30 | Q1 FY2025 2025-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue | $7.59B | $2.58B +112% | $2.08B +112% | $1.57Bd | $1.36B | $1.21B | $982.0M |
| Gross profit | $5.12B | $1.70Bd +89% | $1.36Bd +89% | $1.06Bd | $995.9Md | $899.0Md | $720.0Md |
| Operating income | −$230.7M | −$49.0M -358% | −$144.0M | −$89.6Md | $51.9M | $19.0M | −$27.0M |
| Net income | −$1.93B | −$626.0M | −$740.0M | −$451.7Md | −$110.1M | −$290.0M | −$315.0M |
| EPS (diluted) | $-3.70 | $-1.14 | $-1.40 | $-0.94d | $-0.22 | $-0.60 | $-1.49 |
| Operating cash flow | $6.91B | $679.0Md | $2.98B +4792% | $1.56Bd | $1.69Bd | −$251.0Md | $61.0M |
| Capital expenditure | $20.57B | $6.42Bd +162% | $7.70B +447% | $4.06Bd | $2.39Bd | $2.45Bd | $1.41B |
| Cash & equivalents | $5.52B | $5.52B | $2.24B | $3.13B | $1.89B | $1.15B | $1.28B |
| Total debt | — | — | $24.86B | $21.37B | $14.03B | $11.05B | $8.71B |
| Metric | FY2025 2025-12-31 |
|---|---|
| Revenue | $5.13B |
| Cost of revenue | $1.45B |
| Gross profit | $3.68Bd |
| Research & development | $352.0M |
| Operating income | −$46.0M |
| EBIT | −$46.0M |
| Depreciation & amortization | $2.45B |
| Interest expense | $1.15B |
| Income tax | −$48.0M |
| Net income | −$1.17B |
| EPS (diluted) | $-2.81 |
| Dividends per share | $0.00 |
| Diluted shares (weighted) | 436.0M |
| Operating cash flow | $3.06B |
| Capital expenditure | $10.31B |
| Cash & equivalents | $3.13B |
| Long-term debt (incl. current portion) | $21.37B |
| Total debt | $21.37B |
| Total assets | $49.30B |
| Total liabilities | $45.97B |
| Shareholders' equity | $3.33B |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Northland raises CoreWeave price target to $200 and names it a top pick
Northland Securities raised its CoreWeave price target to $200 from $165 and kept its Outperform rating, naming the stock a top pick among neocloud providers.
AI infrastructure stocks fall after OpenAI puts annualized revenue near $50 billion
OpenAI told investors its annualized revenue was about $50 billion at the end of September, below the roughly $68 billion to $70 billion figure that had circulated in late September.
CoreWeave to build 240 MW of AI capacity in India with AdaniConneX
CoreWeave plans 240 MW of AI data-center capacity at AdaniConneX's Taloja campus in Navi Mumbai, its first facilities in India.
CoreWeave launches Forge, combining Weights & Biases, OpenPipe and marimo
CoreWeave launched Forge, a development platform that merges Weights & Biases Models, OpenPipe post-training and the open-source marimo notebook project.
CoreWeave makes Nvidia Vera Rubin NVL72 available, with Cognition as first production customer
CoreWeave announced Vera Rubin NVL72 availability on its cloud at its Fully Connected conference, naming Cognition as the first customer running production workloads on the system.
CoreWeave prices upsized $3.7 billion 2.875% convertible notes due 2033
CoreWeave priced an upsized $3.7 billion private offering of 2.875% convertible senior notes due April 1, 2033, up from an initial $3.0 billion.
CoreWeave signs short-dated compute contracts at about $40 million per megawatt
CoreWeave said it has kept contracting new compute capacity at higher prices since June 30.
Blockfusion signs 15-year anchor lease with CoreWeave at Niagara Falls
Blockfusion's subsidiary North East Data signed a definitive 15-year anchor lease with CoreWeave at its Niagara Falls, New York campus, along with a companion expansion agreement.
Hudson River Trading moves AI research onto CoreWeave in multi-year deal
Quantitative trading firm Hudson River Trading signed a multi-year agreement to move its AI research and model-training work onto CoreWeave's cloud.
CoreWeave shares jump about 19% after strong Q2 results and raised outlook
CoreWeave shares rose about 19% on August 12, the day after the second-quarter report, as the revenue print and the higher 2026 outlook drew buyers.
CoreWeave Q2 2026 revenue rises 112% to $2.58 billion; backlog about $104 billion
CoreWeave reported second-quarter revenue of $2,575 million, up from $1,212 million a year earlier.
CoreWeave raises 2026 revenue outlook to $12.4B-$13.2B on earnings call
On the same call, CoreWeave raised its full-year 2026 revenue forecast to $12.4 billion to $13.2 billion, up from $12 billion to $13 billion given in May.
CoreWeave closes $2.6 billion DDTL 5.5 loan at SOFR plus 5.50%
CoreWeave closed a $2.6 billion delayed draw term loan, its DDTL 5.5 facility, issued through a special financing vehicle with JPMorgan and Mitsubishi UFJ as joint lead arrangers.
IMC makes a much larger commitment to CoreWeave's cloud
Trading firm IMC has run several CoreWeave clusters in production since 2025 and is now making a significantly larger commitment to the platform, including CoreWeave Kubernetes Service.
CoreWeave signs multi-year priority SSD supply deal with Solidigm
CoreWeave signed a multi-year strategic agreement with Solidigm that gives it priority access to enterprise solid-state drive capacity for its AI cloud.
CoreWeave schedules Q2 2026 results call for August 11
CoreWeave said on July 27 that it will report second-quarter 2026 results and hold its call on Tuesday, August 11, at 5:00 p.m.
CoreWeave launches ARIA research agent in public preview inside Weights & Biases
CoreWeave put its AI Research and Iteration Agent (ARIA) into public preview inside Weights & Biases.
CoreWeave selected for Nasdaq-100, effective before the open on June 22
CoreWeave said it has been selected for inclusion in the Nasdaq-100 Index, effective before market open on June 22, 2026.
CoreWeave prices $1.25 billion and EUR 2 billion of senior notes due 2032
CoreWeave priced $1.25 billion of 9.625% senior notes and EUR 2 billion of 8.500% senior notes, both maturing July 15, 2032.
CoreWeave Q1 2026 revenue $2.08 billion; backlog $99.4 billion
CoreWeave reported first-quarter 2026 revenue of $2,078 million, a GAAP net loss of $740 million, or $1.40 per share, and adjusted EBITDA of $1,157 million.
Jane Street commits about $6 billion to CoreWeave and buys $1 billion of stock
Jane Street committed about $6 billion to use CoreWeave's AI cloud platform and bought $1 billion of Class A common stock at $109.00 per share.
CoreWeave signs multi-year deal to supply compute for Anthropic's Claude models
CoreWeave agreed to support the development and deployment of Anthropic's Claude model family under a multi-year agreement.
CoreWeave prices $3.5 billion of 1.75% convertible notes due 2032
CoreWeave priced an upsized $3.5 billion private offering of 1.75% convertible senior notes maturing October 1, 2032.
CoreWeave and Meta expand deal to about $21 billion through December 2032
CoreWeave agreed to provide AI cloud capacity to Meta through December 2032 for approximately $21 billion, expanding an existing relationship.
CoreWeave prices $1.75 billion of 9.75% senior notes due 2031
CoreWeave priced $1,750 million of senior notes at a 9.75% coupon, maturing October 1, 2031.
CoreWeave shares slide about 20% on weak first-quarter outlook and heavy capex
CoreWeave shares fell sharply in the session after the fourth-quarter report, down 19.8% at midday according to Motley Fool.
CoreWeave Q4 2025 revenue $1.57 billion; Q1 guide and capex plan weigh on shares
CoreWeave reported fourth-quarter 2025 revenue of $1.57 billion, up about 110% from a year earlier, with a GAAP net loss of $452 million.
Nvidia invests $2 billion in CoreWeave at $87.20 a share
Nvidia bought $2 billion of CoreWeave Class A common stock at $87.20 per share in a private placement.
CoreWeave adds Nvidia Vera Rubin to its cloud for second-half 2026
CoreWeave said it will add Nvidia's Rubin platform to its AI cloud and expects to be among the first cloud providers to deploy it in the second half of 2026.
CoreWeave reports fiscal Q3 2025 results: revenue $1.36B
CoreWeave filed a Form 8-K with the SEC on Nov 10, 2025, 4:08 PM ET, reporting an event dated Nov 10, 2025.
SEC filings
| Oct 13, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 13, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 8, 26 | 4 | Form 4: Boone Karen (Director) — option exercise 1,460 sh | sec.gov ↗ |
| Oct 8, 26 | 4 | Form 4: Agrawal Nitin (Chief Financial Officer) — open-market sale 3 sh | sec.gov ↗ |
| Oct 6, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Venturo Brian M (Chief Strategy Officer, Director) — option exercise 126,771 sh, open-market sale 65,616 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: McVeety Kristen J (GC and Secretary) — option exercise 8 sh, open-market sale 5 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: McBee Brannin (Chief Development Officer) — option exercise 121,119 sh, open-market sale 56,531 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Jain Sachin (Chief Operating Officer) — option exercise 8 sh, open-market sale 4 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Intrator Michael N (CEO and President, Director, 10% Owner) — option exercise 140,358 sh, open-market sale 78,552 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Goldberg Chen (EVP, Product & Engineering) — option exercise 8 sh, open-market sale 5 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Baker Jeff (Principal Accounting Officer) — option exercise 8 sh, open-market sale 5 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Agrawal Nitin (Chief Financial Officer) — option exercise 8 sh, open-market sale 5 sh | sec.gov ↗ |
| Oct 1, 26 | 4 | Form 4: Intrator Michael N (CEO and President, Director, 10% Owner) — open-market sale 307,692 sh, conversion 107,692 sh | sec.gov ↗ |
| Sep 30, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 30, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 30, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 30, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 30, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 30, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 30, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 29, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 29, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 24, 26 | 4 | Form 4: Intrator Michael N (CEO and President, Director, 10% Owner) — open-market sale 307,692 sh, conversion 107,692 sh | sec.gov ↗ |
| Sep 24, 26 | 4 | Form 4: Agrawal Nitin (Chief Financial Officer) — open-market sale 55,764 sh | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-06 | Agrawal Nitin Chief Financial Officer | Sale 10b5-1 plan | 3 | $88.60 | $266 |
| 2026-09-30 | Agrawal Nitin Chief Financial Officer | Sale | 5 | $87.69 | $438 |
| 2026-09-30 | Baker Jeff Principal Accounting Officer | Sale | 5 | $87.69 | $438 |
| 2026-09-30 | Goldberg Chen EVP, Product & Engineering | Sale | 5 | $87.69 | $438 |
| 2026-09-30 | Intrator Michael N CEO and President, Director, 10% Owner | Sale | 78.6K | $87.69 | $6.9M |
| 2026-09-30 | Jain Sachin Chief Operating Officer | Sale | 4 | $87.69 | $351 |
| 2026-09-30 | McBee Brannin Chief Development Officer | Sale | 56.5K | $87.69 | $5.0M |
| 2026-09-30 | McVeety Kristen J GC and Secretary | Sale | 5 | $87.69 | $438 |
| 2026-09-30 | Venturo Brian M Chief Strategy Officer, Director | Sale | 65.6K | $87.69 | $5.8M |
| 2026-09-29 | Intrator Michael N CEO and President, Director, 10% Owner | Sale 10b5-1 plan | 307.7K | $86.65 | $26.7M |
| 2026-09-22 | Agrawal Nitin Chief Financial Officer | Sale 10b5-1 plan | 55.8K | $86.83 | $4.8M |
| 2026-09-22 | Intrator Michael N CEO and President, Director, 10% Owner | Sale 10b5-1 plan | 307.7K | $86.82 | $26.7M |
| 2026-09-15 | Intrator Michael N CEO and President, Director, 10% Owner | Sale 10b5-1 plan | 307.7K | $81.91 | $25.2M |
| 2026-09-14 | Agrawal Nitin Chief Financial Officer | Sale | 66.6K | $83.70 | $5.6M |
| 2026-09-08 | Goldberg Chen EVP, Product & Engineering | Sale 10b5-1 plan | 22.4K | $95.91 | $2.2M |
| 2026-09-08 | Intrator Michael N CEO and President, Director, 10% Owner | Sale 10b5-1 plan | 307.7K | $100.08 | $30.8M |
| 2026-09-08 | McVeety Kristen J GC and Secretary | Sale 10b5-1 plan | 97.5K | $93.94 | $9.2M |
| 2026-09-01 | Intrator Michael N CEO and President, Director, 10% Owner | Sale 10b5-1 plan | 307.7K | $81.66 | $25.1M |
| 2026-09-01 | McVeety Kristen J GC and Secretary | Sale 10b5-1 plan | 156.0K | $81.63 | $12.7M |
| 2026-08-26 | McVeety Kristen J GC and Secretary | Sale 10b5-1 plan | 2.1K | $88.03 | $184.9K |
| 2026-08-25 | Agrawal Nitin Chief Financial Officer | Sale 10b5-1 plan | 5.5K | $88.64 | $488.3K |
| 2026-08-25 | Intrator Michael N CEO and President, Director, 10% Owner | Sale 10b5-1 plan | 307.7K | $88.60 | $27.3M |
| 2026-08-24 | McBee Brannin Chief Development Officer | Sale 10b5-1 plan | 249.5K | $85.51 | $21.3M |
| 2026-08-24 | McBee Brannin Chief Development Officer | Sale 10b5-1 plan | 500 | $85.51 | $42.8K |
| 2026-08-20 | Agrawal Nitin Chief Financial Officer | Sale | 10.1K | $91.88 | $924.5K |