CoreWeave, Inc. CRWV

Technology SIC 7372 - Services-Prepackaged Software Nasdaq

CoreWeave is The Essential Cloud for AITM, purpose-built to accelerate breakthroughs by AI pioneers, from leading research labs to enterprises fueling business growth. Our CoreWeave Cloud platform enables the full lifecycle of AI, including large-scale model training, inference, data movement, continuous iteration, and agentic workflows. CoreWeave Cloud combines proprietary software and orchestration, advanced infrastructure, and managed cloud services within a highly secure environment to deliver best-in-class high-performance computing, enabling our customers to develop, deploy, and operate advanced AI models and applications at scale.

AI workloads demand a fundamentally different approach to infrastructure versus general purpose cloud environments. Both training and inference require high-density compute, advanced networking, optimized storage, and software capable of managing complex distributed systems. General-purpose cloud infrastructure was not designed to meet these requirements. We address them by integrating purpose-built infrastructure with AI-native software and managed services into a single, vertically integrated platform optimized for performance, reliability, and scalability.

Last close 89.36 2026-09-04
Market cap $49.24B estimated share count
52-week range 60.55 - 153.20

Valuation FY2025 figures against the last close

P/S9.6x
P/E
P/FCF
EV/EBITDA28.0x
Dividend yield
Diluted EPS-2.81

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022
Revenue $5.13B$1.92B$229.0M
Cost of revenue $1.45B$493.0M$69.0M
Gross profit $3.68B$1.42B$160.0M
R&D $352.0M$56.0M$21.0M
SG&A $651.0M$119.0M$30.0M
Total operating expenses $5.18B$1.59B$243.0M
Operating income -$46.0M$324.0M-$14.0M
Pre-tax income -$1.22B-$744.0M-$558.0M
Income tax $48.0M$119.0M$36.0M
Net income -$1.17B-$863.0M-$594.0M
EPS, basic -2.75-4.30-3.09
EPS, diluted -2.81-4.30-3.09
Shares, diluted (wtd. avg.) $436.0M$218.0M$192.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022
Cash and equivalents $3.13B$1.36B$217.0M$7.0M
Short-term investments $34.0M$0
Receivables $3.17B$417.0M
Total current assets $7.49B$1.92B
Property, plant and equipment $30.56B$11.91B
Goodwill $1.10B$20.0M$0
Other intangibles $235.0M$5.0M
Total assets $49.30B$17.83B
Accounts payable $1.62B$868.0M
Short-term debt $6.71B$2.47B
Total current liabilities $16.44B$4.96B
Long-term debt $14.66B$5.46B
Total liabilities $45.97B$16.52B
Retained earnings -$2.64B-$1.48B
Total equity $3.33B-$414.0M-$597.0M-$11.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022
Operating cash flow $3.06B$2.75B$1.83B
Depreciation and amortisation $2.45B$863.0M$103.0M
Stock-based compensation $630.0M$31.0M$15.0M
Capital expenditure $10.31B$8.70B$2.94B
Investing cash flow -$10.27B-$8.66B-$3.15B
Financing cash flow $9.31B$7.46B$1.79B
Buybacks $2.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001769628-26-000191.

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