CRWV vs DLO: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. CRWV and DLO share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined CRWV and DLO exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

CoreWeave is a specialized cloud computing company, often called a neocloud, that builds and operates data centers packed with Nvidia GPUs and rents that compute capacity to companies that train and run artificial-intelligence models. Founded in 2017 (originally as a crypto-mining operation before pivoting to AI infrastructure) and led by chief executive and co-founder Michael Intrator, it operates over 250,000 Nvidia GPUs across dozens of data centers and roughly 3.5 gigawatts of contracted power. Unlike general-purpose clouds, CoreWeave is engineered specifically for AI workloads, offering dense GPU clusters, high-speed networking, and a managed software layer branded as CoreWeave Cloud. Its customers include Microsoft, OpenAI, Meta, Nvidia itself, and other large AI labs.

Full CRWV guide

dLocal is a cross-border payment platform built for emerging markets. Global merchants (think ride-hailing, streaming, e-commerce, SaaS, and on-demand delivery companies) integrate a single dLocal API to accept payments from and send payouts to customers across more than 40 countries in Latin America, Africa, and Asia, without setting up a local entity in each one. dLocal acts as the merchant of record, handling local regulations, tax, currency conversion, and connections to more than 900 local payment methods (cards, bank transfers, cash vouchers, and digital wallets). It makes money by taking a small cut, its take rate, of the total payment volume it processes, so its economics scale with volume. In Q1 2026 total payment volume reached about $14.1 billion (up 73% year over year), revenue was about $335.9 million (up 55%), gross profit was about $119 million, and net income was about $42 million. Pay-ins crossed $10 billion in a quarter for the first time.

Full DLO guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• CRWV drivers: Explosive revenue growth and backlog; Privileged Nvidia relationship.
• DLO drivers: Total payment volume compounding; Land-and-expand with global merchants.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The risks here are unusually large and structural. For DLO, the dominant risk is take-rate compression: revenue and gross profit are growing far slower than payment volume because large enterprise clients, who make up a rising share of the mix, negotiate lower fees, and investors openly question how low the take rate can go.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick CRWV if you believe its drivers more; DLO if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the CRWV and DLO guides.

CRWV. Figures are approximate and tied to the asOf date; verify live numbers before acting. CoreWeave does not trade on earnings because it is deeply unprofitable, so investors watch revenue growth, backlog, adjusted EBITDA, capital expenditure, and debt instead. The valuation embeds enormous future growth from that backlog, which means the stock can swing violently on any change in AI-demand sentiment, guidance, or financing conditions.

DLO. Figures are approximate and tied to the asOf date; verify live numbers before acting. DLO trades at a lower P/E than many fast-growing fintech peers, which reflects investor caution about declining take rates rather than doubt about volume growth. The gap between rapid payment-volume growth and much slower profit growth is the single most important thing to watch, because it tells you whether the business is monetizing that volume or giving pricing away to win it.

Headline figures (approximate, July 2026): CRWV shows revenue (ttm) ~$6.2 billion, more than doubling year over year, revenue (q1 2026) ~$2.08 billion, up from ~$982 million a year earlier, 2026 revenue guidance ~$12 billion to $13 billion, net loss (q1 2026) ~$740 million (adjusted EBITDA ~$1.2 billion); DLO shows total payment volume (q1 2026) ~$14.1 billion, up ~73% year over year, revenue (q1 2026 quarterly) ~$335.9 million, up ~55% year over year, net income (q1 2026) ~$42 million (down ~10% year over year), p/e ratio ~19x trailing, ~13x forward.

CRWV and DLO are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined CRWV and DLO exposure against your real portfolio. It is not an investment adviser.