CoreWeave Inc
coreweave.comCoreWeave Inc (NASDAQ: CRWV) is a cloud computing company that operates a vertically integrated platform purpose-built for AI workloads, combining high-density GPU infrastructure with proprietary orchestration software and managed services. Revenue comes from cloud computing services sold primarily through multi-year take-or-pay committed contracts, supplemented by on-demand pay-as-you-go access. Customers include enterprises, AI labs, and technology companies deploying AI at scale. Revenue grew from $229 million (FY2023) to $1.9 billion (FY2024) to $5.1 billion (FY2025), per the 10-K filed March 2, 2026. Remaining performance obligations stood at $60.7 billion as of December 31, 2025, up from $15.1 billion as of December 31, 2024, with a weighted-average contract duration of approximately five years. The business is capital-intensive: cash paid for property and equipment was $10.3 billion in FY2025 and $8.7 billion in FY2024, financed through a mix of asset-level debt, OEM financing, and equity. CEO is Michael Intrator; CFO is Nitin Agrawal.
Products & Services
CoreWeave Cloud Platform comprising: Infrastructure Services (GPU compute clusters, high-density servers, networking); CoreWeave Mission Control proprietary orchestration and observability software; CoreWeave Kubernetes Service (CKS) managed Kubernetes; SUNK (Slurm on Kubernetes) for large-scale AI training clusters; AI-optimized object and file storage with Local Object Transport Accelerator (LOTA); Runtime Acceleration services for training and inference workload optimization; Managed Software services.
Revenue Model
Cloud computing services revenue recognized under ASC 606 and ASC 842, primarily through multi-year take-or-pay committed contracts for specified capacity; secondary revenue from on-demand pay-as-you-go access. Infrastructure is financed through asset-level debt supported by customer take-or-pay contracts.
Customers & Markets
Enterprises, AI labs, and technology companies deploying AI at scale. Customers access capacity through multi-year committed contracts and expand commitments over time. The filing does not disclose named customers, customer counts, or specific customer concentration percentages.
Geographic Exposure
Primarily U.S.-based operations. U.S. federal NOL carryforwards of $4.3 billion and state NOL carryforwards of $905 million as of December 31, 2025; foreign NOL carryforwards of $5 million as of December 31, 2025, indicating minimal non-U.S. operations to date.
Source: SEC 10-K, filed 2026-03-02
Financial Snapshot
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