CoreWeave, Inc. (CRWV) Stock Price & How to Invest
Short answer
You can invest in CoreWeave (CRWV) by buying shares or fractional shares at any major broker, or as one holding in a thematic AI-infrastructure basket. CoreWeave is an AI-focused cloud provider that rents out fleets of Nvidia GPUs to companies training and running large AI models, so the thesis is a pure, leveraged bet on AI compute demand staying insatiable. The single biggest thing to understand is that this growth runs on debt and a handful of huge customers, which makes it far more volatile and financially fragile than a typical cloud stock.
CRWV stock price
As of 2026-07-01, CoreWeave, Inc. (CRWV) last closed at $85.68, down 43.5% over the past year. Over the past 52 weeks it has traded between $64.55 and $165.20.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or CoreWeave, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does CoreWeave, Inc. (CRWV) do?
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.
CoreWeave completed the largest US tech IPO since 2021 in March 2025 at $40 per share and the stock has since been extremely volatile, trading between roughly $64 and $187 over the following year. The investment picture is a study in contrasts: revenue more than doubled year over year to about $2.08 billion in Q1 2026, and the company carries a reported revenue backlog near $99 billion, yet it also posted a $740 million net loss that quarter and exited 2025 with more than $20 billion of debt used to finance its data-center buildout. Nvidia is both a key supplier and an equity investor, and a small number of customers (Microsoft alone was around two-thirds of 2025 revenue) drive most sales. The result is a company growing explosively while burning cash and leaning heavily on borrowed money, making it a concentrated, high-risk expression of the AI-infrastructure trade.
What's driving CoreWeave, Inc. (CRWV)?
1. Explosive revenue growth and backlog
CoreWeave's revenue more than doubled year over year to about $2.08 billion in Q1 2026, and management guided to $12 billion to $13 billion for the full year. The company reports a revenue backlog near $99 billion from multi-year contracts with customers like OpenAI, Meta, and Microsoft. That backlog gives unusual visibility into future demand, provided customers hold to their commitments.
2. Privileged Nvidia relationship
CoreWeave has historically secured early and large allocations of Nvidia's newest GPUs, which are the scarce input everyone in AI wants. Nvidia deepened the tie with a roughly $2 billion equity investment and a multi-billion-dollar capacity backstop. This preferential access is a real edge, though it also makes CoreWeave heavily dependent on a single chip supplier.
3. Pure exposure to the AI compute buildout
Few public companies offer such a direct wager on AI infrastructure spending. As AI labs and enterprises race to train larger models, demand for rentable GPU capacity has outstripped supply. CoreWeave is expanding aggressively, projecting $31 billion to $35 billion of 2026 capital expenditure to add data centers and power, aiming to capture that demand ahead of slower-moving rivals.
4. Move up the stack toward software and margins
CoreWeave is layering managed platform and software services on top of raw hardware rental to improve margins and make customers stickier. Adjusted EBITDA reached about $1.2 billion (a roughly 56% margin) in Q1 2026, showing the underlying compute economics can be profitable before financing and depreciation. Whether higher-value software revenue scales meaningfully is a key part of the longer-term story.
What are the risks to CoreWeave, Inc. (CRWV)?
The risks here are unusually large and structural. Growth is financed by debt, over $20 billion at the end of 2025, so rising interest rates, tighter credit, or any slowdown in demand could strain a balance sheet that is spending far more than it earns (free cash flow was deeply negative). Customer concentration is severe: Microsoft was roughly two-thirds of 2025 revenue, and a renegotiation, cancellation, or decision by a big customer to build its own capacity could gut sales. The company is also almost entirely dependent on Nvidia for chips, exposing it to supply timing and any shift in Nvidia's allocation priorities. GPUs depreciate quickly and could be made obsolete by newer hardware, and the whole thesis rests on AI compute demand staying strong, which is far from guaranteed. The stock has been extraordinarily volatile as a result.
How is CoreWeave, Inc. (CRWV) valued? (approximate, July 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see CoreWeave, Inc.'s investor relations page or your broker.
- 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)
- Revenue backlog: ~$99 billion in contracted commitments
- Total debt: ~$20 billion+, funding the data-center buildout
- Market cap: ~$50 billion (stock roughly $86 to $108, well off its ~$187 high)
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.
Who competes with CoreWeave, Inc. (CRWV)?
GPU neoclouds
Other specialized AI-cloud providers renting Nvidia GPU capacity, including Nebius, Lambda, Crusoe, Nscale, and IREN. Nebius is the closest public comparable and notably ran profitably in 2025 with far less debt, which frames the debate over how CoreWeave finances its growth. These players compete for the same GPU allocations, power, and AI-lab customers.
Hyperscale cloud giants
The large general-purpose clouds, Amazon Web Services, Microsoft Azure, Google Cloud, and Oracle Cloud, all offer GPU compute at massive scale and far stronger balance sheets. They are an awkward mix of rival and customer (Microsoft is CoreWeave's biggest customer), and their ability to build their own AI infrastructure is a direct competitive threat.
In-house AI infrastructure
CoreWeave's own largest customers, the big AI labs and tech companies, are increasingly building or buying their own data-center capacity. If Microsoft, OpenAI, Meta, or others shift more workloads onto owned hardware, that erodes the rental demand CoreWeave depends on, making its customers a structural competitive risk as much as a revenue source.
How to invest in CoreWeave, Inc. (CRWV)
There are three common ways to get CRWV exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so CRWV sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where CRWV fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on CoreWeave, Inc. (CRWV)
CoreWeave is one of the purest public ways to own the AI compute buildout, pairing triple-digit revenue growth and a roughly $99 billion contracted backlog with more than $20 billion of debt, deep customer concentration, and steep ongoing losses, so it behaves like a high-beta wager on the AI cycle rather than a stable infrastructure holding.
More on CoreWeave, Inc. (CRWV)
Whether CRWV is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is CRWV a buy?, and where the stock could go from here in the CRWV stock forecast.
For income investors, whether CRWV pays a dividend and how the payout looks is covered in does CRWV pay a dividend?
Build a basket around CRWV with Walnut
Use CoreWeave, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
Is CRWV a good stock to buy right now?
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That depends on your goals, time horizon, and risk tolerance, and this is not investment advice. The bull case is triple-digit revenue growth, a roughly $99 billion backlog, and privileged Nvidia access as AI compute demand booms. The bear case is more than $20 billion of debt, heavy customer concentration, ongoing losses, and extreme share-price volatility. It is a high-risk, high-reward bet on the AI cycle.
What does CoreWeave actually do?
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CoreWeave is a specialized cloud provider, sometimes called a neocloud, that builds data centers full of Nvidia GPUs and rents that computing power to companies training and running AI models. Customers such as Microsoft, OpenAI, and Meta use it instead of building their own AI infrastructure. It offers dense GPU clusters, fast networking, and a managed software layer optimized specifically for AI workloads.
Why is CoreWeave stock so volatile?
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CoreWeave is a pure, leveraged play on AI infrastructure, so its price swings hard on any shift in AI-demand sentiment, guidance, or financing conditions. It carries huge debt, deep customer concentration, and steep losses, which amplify moves. Since its March 2025 IPO at $40, the stock has traded between roughly $64 and $187, a very wide range that reflects how much uncertainty the market is pricing.
How does CoreWeave make money?
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CoreWeave rents out Nvidia GPU capacity and related cloud services under multi-year contracts, charging customers for the compute they use to train and run AI models. Most revenue comes from a small set of very large customers. It reported about $2.08 billion of revenue in Q1 2026 and a revenue backlog near $99 billion, though it remains unprofitable on a net basis because of heavy financing and depreciation costs.
Who are CoreWeave's biggest customers?
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Microsoft has been by far the largest, accounting for roughly two-thirds of 2025 revenue, followed by OpenAI (with contracts worth over $22 billion), Meta, Nvidia, and other AI labs. This concentration is a defining feature and a major risk: a renegotiation, cancellation, or a big customer building its own capacity could sharply reduce CoreWeave's sales.
Does CRWV pay a dividend?
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No. CoreWeave does not pay a dividend and is deeply unprofitable, reinvesting everything (and a great deal of borrowed money) into building data centers and buying GPUs. Any return from the stock would come from share-price appreciation, not income. That makes it unsuitable for investors seeking yield and better understood as a speculative growth position.
How is CoreWeave different from Nebius?
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Both are publicly traded GPU neoclouds offering full-stack AI cloud platforms, and they are frequently compared. CoreWeave is far larger, generating roughly ten times Nebius's 2025 revenue, but it also carries much more debt (over $20 billion versus about $4 billion) and posted large losses, while Nebius was profitable in 2025. The contrast highlights CoreWeave's scale-versus-financial-risk tradeoff.
What are the main risks of investing in CRWV?
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The big ones are financial and structural: more than $20 billion of debt funding a cash-burning buildout, extreme reliance on a few customers (Microsoft was around two-thirds of revenue), and near-total dependence on Nvidia for chips. GPUs also depreciate fast and can be made obsolete by newer hardware. The entire thesis rests on AI compute demand staying strong, and the stock is exceptionally volatile.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with CoreWeave, Inc.'s investor relations page or your broker before making investment decisions.