CoreWeave Eyes Explosive Growth with Federal Market Entry and $30B Backlog

CoreWeave Is 'Frightening... It's Unbelievable,' Says Expert, Expecting Its Revenue To Multiply Nearly 5x By 2028 - CoreWeave (NASDAQ:CRWV)

Specialist AI cloud provider CoreWeave Inc. (NASDAQ:CRWV) is on a "frightening" growth trajectory, with revenue projected to scale to "mid-$20s billion" by 2028, according to a leading digital infrastructure analyst. This forecast suggests its revenue could multiply "nearly 5x" from its 2025 projection of $5.3 billion. Check out CRWV's stock price here. CoreWeave Could Scale Mid-$20 Billion In Revenue By 2028 The "unbelievable" forecast was shared by Nick Del Deo, an analyst at MoffettNathanson, on a recent episode of "The Real Eisman Playbook" podcast. The discussion highlighted CoreWeave's explosive emergence as a critical infrastructure player in the artificial intelligence boom. To put the company's meteoric rise in context, Del Deo noted that CoreWeave's total revenue in 2022 was approximately "$16 million." The leap from that figure to a projected $5.3 billion in 2025, and then to a potential "mid-20s billion" by 2028, underscores the unprecedented demand for its services. "It's frightening. It's unbelievable," remarked the experts on the show. See Also: CoreWeave Turns $50 Million Convertible Notes Into $12.5 Billion AI Jackpot For This Hedge Fund From 'Crypto Miner' To AI Powerhouse: In The Same League As AT&T, Walmart Del Deo noted that CRWV began as a crypto miner around 2017, and it has since pivoted to become a key partner for major AI players. It has "exclusively leased its facilities" and fills them with specialized GPU equipment, attracting massive customers like Microsoft Corp. (NASDAQ:MSFT), which currently accounts for 70% of its business, and OpenAI. The scale of this build-out requires a level of spending Del Deo called "astronomical," with a projected capital expenditure of "$21 to $23 billion" this year alone. "In just a handful of years, their capital budget is in the same league as AT&T, Walmart, Exxon Mobil," Del Deo stated, emphasizing the sheer scale of the operation. "There's nothing else like CoreWeave out there." Big Tech's Proprietary Businesses Could Wrestle CRWV Despite the massive opportunity, Del Deo cautioned that CoreWeave faces future competition from the "big battleship businesses" of cloud computing, such as Amazon.com Inc. (NASDAQ:AMZN), Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOOGL) Google, and Microsoft itself. He suggested that as chip constraints ease, these incumbents will become "more effective" in the space, which could eventually "put some pressure on CoreWeave's returns over time." CRWV Logs Astronomical Returns Since Listing Shares of CRWV have returned 203.83% since its listing in March. However, it was down 7.15% over the last month. It maintains a stronger price trend over short and long terms, with a poor trend in the medium term. Additional performance details, as per Benzinga's Edge Stock Rankings, are available here. On Thursday, the futures of the S&P 500, Dow Jones, and Nasdaq 100 indices were trading in a mixed manner Meanwhile, on Wednesday, the S&P 500 index ended 0.53% lower at 6,699.40, whereas the Nasdaq 100 index fell 0.99% to 24,879.01. On the other hand, Dow Jones declined 0.71% to end at 46,590.41. Read Next: CoreWeave Is A 'Debt-Fueled GPU Rental Business,' Says Kerrisdale, Shorting CRWV Amid Criticisms Of Valuation-Boosting 'Circle Jerk' With Nvidia Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga Photo courtesy: T.-Schneider / Shutterstock CRWVCoreWeave Inc$122.070.44%OverviewAMZNAmazon.com Inc$219.320.63%GOOGAlphabet Inc$254.060.61%MSFTMicrosoft Corp$521.910.26%Market News and Data brought to you by Benzinga APIs

CoreWeave's Next Act: Where the Growth Will Come From | The Motley Fool

CoreWeave is evolving into a full-stack artificial intelligence (AI) infrastructure company, and it's not stopping anytime soon. CoreWeave (CRWV 2.74%) has become one of the fastest-growing companies in the artificial intelligence (AI) infrastructure race. In just a few years, it has gone from a niche GPU cloud provider to a critical player powering the compute backbone for companies like OpenAI, Microsoft, and Meta Platforms. But as the AI boom enters its next phase, investors are asking: Where will CoreWeave's growth come from next? Here are three essential levers that the company can pull to keep growth coming and help it evolve from a GPU supplier into a long-term AI infrastructure platform. CoreWeave's most immediate growth opportunity lies in expanding workloads from the customers it already serves. Many of its largest clients -- including OpenAI, Microsoft, and Meta -- are scaling AI usage across training and inference at a staggering pace. For CoreWeave, that means the potential to grow "inside" these accounts, even without adding new logos. Once the cloud company builds and configures GPU clusters for a client, scaling additional capacity becomes far more efficient. The infrastructure, tooling, and service integrations are already in place -- turning each existing customer into a multiyear growth engine. This dynamic is evident in the company's revenue backlog, which hit $30.1 billion as of June 30, reflecting contracted compute commitments and multiyear take-or-pay agreements. Comparatively, revenue in that quarter was $1.2 billion, suggesting revenue will scale even faster in the future. In fact, the cloud company signed another agreement with OpenAI on Sept. 25, bringing the total contract value with the latter to $22.4 billion. As AI workloads become larger and more continuous, CoreWeave is positioned to capture that compounding demand from the very customers driving the AI revolution. So far, that trend shows no signs of slowing. The second major growth vector comes from broadening CoreWeave's customer base beyond AI labs and hyperscalers. So far, much of its revenue has been concentrated in a handful of AI training workloads. But the next wave of adoption is coming from industries that are just beginning to deploy large-scale compute -- from financial modelling and pharmaceutical research to gaming, design, and industrial simulation. As generative AI applications proliferate, more enterprises will need access to high-performance GPU clusters -- without building data centers from scratch. This AI compute is CoreWeave's sweet spot. Its model allows it to provision GPU compute on demand, with lower latency and often better price-performance ratios than the hyperscalers. While most of CoreWeave's revenue still comes from AI labs and hyperscalers, it is also making progress in expanding into new verticals. For instance, it announced that it would acquire Monolith AI, a pioneer in applying artificial intelligence and machine learning to solve complex physics and engineering challenges. This acquisition will allow CoreWeave to offer a full-stack platform for industrial and manufacturing enterprises. If CoreWeave can replicate its success with OpenAI in just a few of these industries, the growth runway could extend for many years into the future. Another transformative pillar of CoreWeave's growth strategy is vertical integration -- controlling more of the physical and operational infrastructure that underpins its cloud. The company's planned acquisition of Core Scientific, a large data-center and power operator, marks a significant step in that direction. The deal gives CoreWeave direct control over critical bottlenecks such as energy and data center capacity. Owning this layer reduces dependency on third-party hosting providers and mitigates the risk of power shortages or cost spikes. It also allows CoreWeave to expand faster and with better long-term economics: Every dollar of capital expenditures (capex) spent now builds durable assets that can serve multiple generations of GPUs. Beyond physical infrastructure, CoreWeave is investing in orchestration software and automation tools to maximize GPU utilization. By controlling both the hardware and software layers, it can improve efficiency, reduce idle time, and ultimately enhance margins. In short, vertical integration isn't just about scale, but also sustainability. It gives CoreWeave the control and resilience it needs to keep growing through the next decade of AI expansion. CoreWeave is riding on one of the biggest trends in decades -- and is smartly taking advantage of it. By deepening relationships with its anchor clients, expanding into new verticals, and owning more of the stack, CoreWeave is building a foundation that could support exponential revenue growth for years. For investors, that makes CoreWeave a fascinating growth stock to watch -- and potentially, an investment opportunity.

CoreWeave Rallies on AI Infrastructure Momentum, $30B Backlog | Investing.com UK

CoreWeave (NASDAQ:CRWV) surged 3.81% to $139.93 after hours, following renewed investor confidence in its long-term AI infrastructure dominance. The company's transformation from a niche GPU lessor into a vertically integrated AI cloud giant has made it one of the most significant plays in the generative AI ecosystem. Backed by major contracts with Meta (NASDAQ:META) and Nvidia (NASDAQ:NVDA) -- totaling more than $20 billion in commitments -- CoreWeave is now viewed as a foundational infrastructure layer for the AI economy, bridging both compute and software through reinforcement learning (RL) and agentic AI integration. CoreWeave's most recent quarter marked a defining moment in its expansion story. Revenue climbed 206.75% year-over-year to $1.21 billion, with EBITDA reaching $607.69 million, up 150.92% from last year. The company's backlog rose to $30.1 billion, nearly doubling year-to-date, and management reaffirmed guidance for Q3 revenue between $1.26 billion and $1.30 billion. Despite a net loss of $290.5 million (reflecting its aggressive buildout phase), CoreWeave's fundamentals show a company executing with precision in a hyper-growth market. The company's operating expenses jumped 307.98% to $851.9 million, as it scaled up infrastructure to meet overwhelming demand from hyperscalers and enterprise AI clients. What truly separates CoreWeave from peers is its strategic vertical integration. The planned acquisition of Core Scientific (NASDAQ:CORZ) will add 1.3 GW of capacity and remove over $10 billion in future leasing costs, while cutting annual operating expenses by roughly $500 million by 2027. Once completed, this move will give CoreWeave control over more than 2 GW of secured capacity, effectively making it one of the few independent AI infrastructure providers capable of powering the world's largest LLM and reinforcement learning workloads. If regulators approve the acquisition by year-end, CoreWeave could accelerate its free cash flow breakeven to mid-2026, backed by EBITDA margins stabilizing above 60%. The financial structure remains ambitious but disciplined. CoreWeave carries $22.42 billion in liabilities against $3.82 billion in equity, and $1.15 billion in cash reserves, maintaining a price-to-book ratio of 24.7x. Although cash from operations remains negative (-$251.25 million), management has emphasized that much of this reflects transitional CapEx tied to new data center energizations. Free cash flow stands at -$2.29 billion, but the conversion of its massive backlog should gradually offset these deficits by late 2025. With 518.45 million shares outstanding, CoreWeave's market cap now approaches $72 billion, and investors continue to assign premium valuations given its explosive growth potential. The company's strategic partnerships reinforce its credibility. CoreWeave secured a Master Services Agreement with Meta Platforms worth up to $14.2 billion through 2031, ensuring long-term visibility and stability in utilization rates. Similarly, its $6.3 billion agreement with Nvidia -- which requires Nvidia to absorb unused compute capacity through 2032 -- significantly reduces utilization risk and underpins future cash flow certainty. These deals not only validate CoreWeave's infrastructure quality but also position it as a critical counterpart in the AI buildout cycle alongside hyperscalers like AWS (NASDAQ:AMZN), Microsoft Azure (NASDAQ:MSFT), and Google Cloud (NASDAQ:GOOGL). Technically, CRWV stock shows robust momentum. After peaking near $187, shares pulled back to $134.80 before rebounding toward $140 on strong institutional accumulation. The golden cross pattern between its 50-hour and 200-hour moving averages indicates renewed bullish sentiment. Analysts expect short-term resistance near $145-$150, while support lies at $132-$135. A sustained breakout above $150 could open room toward $165-$175, driven by renewed optimism around Q3 results and execution of the Core Scientific acquisition. CoreWeave's long-term thesis extends beyond GPU compute. The acquisition of OpenPipe signals a decisive move into reinforcement learning and agent orchestration, where it aims to dominate the "agentic infrastructure" era -- the next evolution of AI that will enable self-improving autonomous systems. By providing end-to-end infrastructure -- from GPUs to agent runtime orchestration -- CoreWeave positions itself to capture higher-margin software and service revenue that traditional hyperscalers struggle to optimize. This strategic evolution mirrors how Nvidia evolved from a hardware supplier into a software-driven ecosystem. The numbers behind this opportunity are staggering. The U.S. AI infrastructure market is expected to grow at a 28.5% CAGR through 2030, reaching over $220 billion in annual revenue. CoreWeave's vertically integrated model gives it a structural cost advantage over traditional hyperscalers, as it can deploy, power, and monetize GPUs faster and at higher utilization rates. The combined synergy of control over data centers, reinforcement learning software, and long-term contracts with Meta and Nvidia offers a clear pathway toward $12-13 billion in annual revenue by 2026, more than doubling current figures. Still, execution risk remains. CoreWeave's debt load, at over $11 billion net, requires flawless contract conversion and ramp-up to sustain interest payments of $350-$390 million per quarter. Power availability across U.S. grids like PJM and ERCOT also presents a structural bottleneck -- a limiting factor that could slow capacity onboarding and compress near-term growth. Nevertheless, CoreWeave's strategic control over energy procurement through the Core Scientific deal mitigates some of this exposure. CoreWeave's valuation at 13x forward Price/Sales and ~25x EV/EBITDA remains steep but justified if growth persists. At current momentum, the company is on track for 55-60% gross margins and positive free cash flow by mid-2026. Analysts forecast a 12-month price target range of $165-$200, with a bullish scenario reaching $230 if Q3 earnings outperform and regulatory approval of Core Scientific clears. A bear case sees a pullback to $110-$120 if financing costs rise or energy supply lags behind GPU deployment. CoreWeave is no longer just a GPU lessor -- it's an emerging AI infrastructure titan reshaping the compute economy. With over $30 billion in backlog, multi-year contracts with Meta and Nvidia, and vertical control over power and hardware, CRWV is positioned to lead the next AI supercycle. As it transitions toward software-driven reinforcement learning platforms, its earnings potential expands exponentially. Verdict: STRONG BUY -- CoreWeave (NASDAQ:CRWV) offers a high-risk, high-reward profile backed by explosive revenue growth, strategic acquisitions, and industry-defining contracts. Price target $200-$230 over 12 months, with volatility expected. Execution will determin

CoreWeave stock rises after announcing federal market expansion By Investing.com

Investing.com -- CoreWeave, Inc. (NASDAQ:CRWV) stock gained 3% during Tuesday's session after the AI cloud infrastructure provider announced plans to expand into the U.S. federal market. The company, which brands itself as "The Essential Cloud for AI," intends to pursue FedRAMP and other authorizations to offer its high-performance AI cloud services to U.S. government agencies and the Defense Industrial Base. CoreWeave 's federal division will focus on delivering secure, compliant cloud infrastructure as government agencies accelerate their adoption of AI capabilities. "America's economic competitiveness and national security rely on the continued advancement of secure, high-performance AI infrastructure," said Michael Intrator, Co-founder, Chairman, and CEO of CoreWeave. "We will bring our platform to the federal market in alignment with the government's rigorous standards to help agencies accelerate innovation and strengthen mission performance." The company plans to adapt its AI cloud platform to meet U.S. government cybersecurity standards and compliance requirements. CoreWeave will leverage experience gained through its acquisition of Weights & Biases (W&B) to build on existing public sector capabilities. CoreWeave has recently expanded its Washington, DC presence and made several government-focused leadership appointments. The company collaborates with NVIDIA to integrate advanced computing and networking technologies across its platform, including NVIDIA AI infrastructure and Quantum InfiniBand networking. The announcement was made during CoreWeave's participation in the NVIDIA GTC GPU Technology Conference in Washington, DC. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

CoreWeave to enter the U.S. federal market

CoreWeave, Inc. is an American technology company founded in 2017, specializing in cloud infrastructure designed for compute-intensive workloads. It has positioned itself as a niche player in a market dominated by generalist giants. Its offering is built on a vertical specialization in artificial intelligence (AI) and related applications, notably high-performance computing (HPC) and graphical rendering. CoreWeave operates a GPU-first architecture, optimized for training and inference of generative AI models. It also targets scientific and financial computing, as well as real-time 3D rendering needs. With its own data centers located in the United States and Europe, the company maintains full control over its infrastructure. This control enables it to deliver high performance, low latency, and flexible deployment capabilities. Some facilities are shared among clients, while others are fully dedicated to a single customer. CoreWeave serves a diverse clientele, ranging from AI startups to research labs, as well as production studios and financial institutions. In addition to its hardware infrastructure, the company develops its own GPU management software. These tools enable intelligent resource allocation, continuous performance optimization, and better cost control. This vertical integration, from hardware to software, enhances the company's competitiveness. CoreWeave stands out through its tailored approach and its ability to meet clients' specific needs. It aims to become the leading provider for AI workloads on a global scale. In a context of surging demand for computing power, its model is appealing due to its specialization and agility.

Magnetar Financial sells CoreWeave (CRWV) stock worth $6.04 million By Investing.com

Magnetar Financial LLC, along with affiliated entities, reported selling shares of CoreWeave, Inc. NASDAQ:CRWV Class A Common Stock on October 20, 2025. The sales amounted to a total of $6.04 million, with prices ranging from $135.59 to $138.26. CoreWeave , currently valued at $64.8 billion, has seen its stock surge 242% year-to-date, though InvestingPro analysis indicates the stock is trading above its Fair Value. The transactions involved multiple entities including CW Opportunity LLC, CW Opportunity 2 LP, Magnetar Capital Master Fund, Ltd, Magnetar Constellation Master Fund, Ltd, Magnetar Longhorn Fund LP, Magnetar SC Fund Ltd, Magnetar Xing He Master Fund Ltd, Purpose Alternative Credit Fund - F LLC, Purpose Alternative Credit Fund - T LLC, and Longhorn Special Opportunities Fund LP, the general partner of Magnetar Structured Credit Fund, LP and the manager of Magnetar Alpha Star Fund LLC and Magnetar Lake Credit Fund LLC. Magnetar Financial LLC serves as the investment advisor to these Magnetar Funds. Magnetar Capital Partners LP is the sole member and parent holding company of Magnetar Financial. Supernova Management LLC is the general partner of Magnetar Capital Partners. David J. Snyderman is the administrative manager of Supernova Management. Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman disclaimed beneficial ownership of these shares. In other recent news, CoreWeave announced the appointment of Jon Jones as its first Chief Revenue Officer. Jones brings over two decades of experience in technology leadership roles, including his previous position as Global Head of Startups and Venture Capital at Amazon. In another development, CoreWeave secured a significant partnership with Poolside to provide over 40,000 GPUs under Nvidia systems. Evercore ISI estimates that this partnership could potentially add around $5 billion to CoreWeave's backlog. Furthermore, CoreWeave is partnering with AI startup Poolside to build a large data center complex in West Texas, known as "Horizon," which will leverage natural gas to power the facility. Additionally, CoreWeave launched Serverless RL, a fully managed reinforcement learning capability for AI agent training, which offers faster training times and reduced costs. This new service aims to simplify AI training by allowing developers to scale reinforcement learning across multiple GPUs with minimal setup. The launch of Serverless RL marks CoreWeave's first collaboration with recently acquired OpenPipe. These developments reflect CoreWeave's ongoing efforts to expand its capabilities and partnerships in the AI infrastructure space. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.