CoreWeave (CRWV) AI Stock Analysis

• Market Cap: $44.65B
• Dividend Yield: N/A
• Average Volume (3M): 19.81M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.43
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 881
• Sector: Technology
• Sector Strength: 83
• Industry: Software - Infrastructure
• EPS (TTM): -0.27
• Shares Outstanding: 370,470,340
• 10 Day Avg. Volume: 33,196,192
• 30 Day Avg. Volume: 19,812,226
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.99
• Enterprise Value/Revenue: 30.16
• Enterprise Value/Gross Profit: 40.61
• Enterprise Value/Ebitda: 58.85
• 1Y Price Target: $123.45
• Price Target Upside: 27.36% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 23

• Rating: 51 Neutral
• Price Target: $97.00 ▲(0.07% Upside)

CoreWeave, Inc. Class A's overall stock score is primarily influenced by its strong revenue growth and strategic corporate events. However, financial instability and bearish technical indicators weigh heavily on the score. The company's ability to manage its high leverage and improve profitability will be crucial for future performance.

Positive Factors

Market Opportunity

CoreWeave is a leading GPU-as-a-Service provider targeting a $399 billion market opportunity in 2028 and growing at a 38% CAGR since 2023, according to the company.

Strategic Importance

CoreWeave appears to be increasing strategic importance and further distancing itself from peers.

Negative Factors

Debt and Profitability

CoreWeave does not currently generate enough profit to pay all its debt holders, certainly not equity holders.

Financial Pressure

Midpoint interest expense is elevated due to recent debt raises, indicating continued financial pressure.

Profitability Concerns

The company's deteriorating profitability and increased borrowing cost are concerning factors.

CoreWeave Business Overview & Revenue Model

Company Description

CoreWeave, Inc. operates a cloud platform that provides scaling, support, and acceleration for GenAI. The company builds the infrastructure that supports compute workloads for enterprises. Its products include GPU compute, CPU compute, storage services, networking services, managed services, and virtual and bare metal servers. Additionally, its platform offers a fleet lifecycle controller, node lifecycle controller, tensorizer, and observability. The company's services also include VFX and rendering, AI model training, AI interference, and mission control. CoreWeave, Inc. was formerly known as Atlantic Crypto Corporation and changed its name to CoreWeave, Inc. in December 2019. CoreWeave, Inc. was incorporated in 2017 and is based in Livingston, New Jersey.

How the Company Makes Money

CoreWeave makes money by providing cloud-based GPU computing services to businesses and developers. The company's primary revenue stream comes from renting out its GPU infrastructure on a pay-as-you-go basis or through subscription models, tailored to the client's computing needs. CoreWeave partners with leading tech companies and leverages advanced GPU technology to offer scalable and efficient compute solutions. The company's earnings are significantly influenced by the growing demand for high-performance computing across various sectors, including artificial intelligence, graphics rendering, and blockchain technology.

CoreWeave Financial Statement Overview

Summary

CoreWeave, Inc. Class A demonstrates strong revenue growth but struggles with profitability and stability. High leverage and negative equity pose significant financial risks. While operating cash flow is healthy, the negative free cash flow highlights potential cash constraints. Addressing operational inefficiencies and financial leverage is crucial for improving financial health.

Income Statement

CoreWeave, Inc. Class A exhibits significant revenue growth year-over-year, indicating strong top-line expansion. However, the company faces challenges with profitability, as reflected by negative net income and poor net profit margins. Despite a positive gross profit margin, the negative EBIT and EBITDA margins highlight operational inefficiencies and high operating costs.

Balance Sheet

The balance sheet reveals a heavily leveraged position with a negative stockholders' equity, indicating financial instability. The debt-to-equity ratio is alarming, reflecting high financial risk. Despite substantial assets, the equity deficit suggests potential solvency issues. The equity ratio is also negative, reinforcing the need for improved capital management.

Cash Flow

Operating cash flow remains robust, showcasing the company's ability to generate cash from operations. However, substantial negative free cash flow due to high capital expenditures poses challenges. The company maintains a positive operating cash flow to net income ratio, but the negative free cash flow to net income ratio suggests an unsustainable cash flow situation.

Breakdown	TTM	Dec 2024	Dec 2023
Income Statement
Total Revenue	2.94B	1.92B	228.94M
Gross Profit	2.18B	1.42B	160.16M
EBITDA	1.51B	480.04M	-426.43M
Net Income	-656.52M	-863.45M	-593.75M
Balance Sheet
Total Assets	26.24B	17.83B	4.98B
Cash, Cash Equivalents and Short-Term Investments	1.71B	1.36B	219.51M
Total Debt	7.14B	10.62B	2.00B
Total Liabilities	22.42B	18.25B	5.57B
Stockholders Equity	3.82B	-413.60M	-596.59M
Cash Flow
Free Cash Flow	-7.36B	-5.95B	-1.11B
Operating Cash Flow	-3.35M	2.75B	1.83B
Investing Cash Flow	-7.34B	-8.66B	-3.15B
Financing Cash Flow	7.47B	7.46B	1.79B

CoreWeave Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$35.62B	7.50	-10.94%	1.87%	8.86%	-10.27%
FTCI	56 Neutral	$103.83M	―	-175.83%	―	-17.53%	8.53%
CRWV	51 Neutral	$44.65B	―		―	―	―
MAXN	46 Neutral	$68.94M	―	307.38%	―	-54.68%	63.56%
WKEY	40 Underperform	$62.81M	―	-51.84%	―	-61.52%	35.64%
NOVAQ	40 Underperform	$50.27K	―	-21.91%	―	16.55%	15.72%
AMST	―	$12.36M	―	-107.30%	―	―	―

CoreWeave Corporate Events

CoreWeave Secures $2.6 Billion Loan for AI Expansion

On July 28, 2025, CoreWeave, Inc. announced the closing of a $2.6 billion delayed draw term loan facility (DDTL 3.0 Facility) to finance capital expenditures for a customer contract with OpenAI. This facility, led by Morgan Stanley and MUFG, aims to enhance CoreWeave’s AI cloud infrastructure and reduce its cost of capital, thereby strengthening its market position as a leader in AI cloud services. The facility, which matures on August 21, 2030, is part of CoreWeave’s broader strategy to support growing customer demand, following a recent $1.75 billion Senior Notes offering.

CoreWeave, Inc. Issues $1.75 Billion in Senior Notes

On July 25, 2025, CoreWeave, Inc. successfully issued $1,750 million in 9.000% Senior Notes due 2031, with the proceeds intended for general corporate purposes, including debt repayment. The Notes, guaranteed by certain subsidiaries, are aimed at enhancing CoreWeave’s financial flexibility and market positioning, reflecting its strategic focus on supporting its growth and operational needs.

CoreWeave Increases Private Offering to $1.75 Billion

On July 22, 2025, CoreWeave, Inc. announced an increase in its private offering of senior notes to $1,750 million, with a 9.000% interest rate and maturity in 2031. The proceeds are intended for general corporate purposes, including debt repayment. The offering is targeted at qualified institutional buyers and non-U.S. persons, with closing expected on July 25, 2025, pending customary conditions.

CoreWeave Announces $1.5 Billion Senior Notes Offering

On July 21, 2025, CoreWeave, Inc. announced its intention to offer $1,500 million in senior notes due 2031 in a private offering, targeting qualified institutional buyers and non-U.S. persons. The proceeds from this offering are intended for general corporate purposes, including debt repayment and covering associated fees and expenses, potentially impacting the company’s financial flexibility and market positioning.

CoreWeave Acquires Core Scientific to Boost Growth

On July 7, 2025, CoreWeave announced its acquisition of Core Scientific in an all-stock transaction, aiming to enhance its data center capabilities and future-proof revenue growth. The merger, expected to close in the fourth quarter of 2025, will allow CoreWeave to streamline operations, reduce costs, and expand its power capacity, ultimately enhancing its market position in AI and high-performance computing sectors.

CoreWeave Issues $2 Billion in Senior Notes

On May 27, 2025, CoreWeave, Inc. issued $2 billion in 9.250% Senior Notes due 2030 to fund general corporate purposes, including debt repayment. The notes, guaranteed by CoreWeave Cash Management LLC, are aimed at bolstering the company’s financial flexibility, potentially enhancing its market position in the AI and cloud computing sectors.

CoreWeave Announces Increased Senior Notes Offering

On May 21, 2025, CoreWeave, Inc. announced the pricing of a private offering of $2,000 million in senior notes due 2030, a $500 million increase from the previously announced size. The proceeds from this offering are intended for general corporate purposes, including debt repayment, and the offering is expected to close on May 27, 2025. This strategic financial move is aimed at strengthening CoreWeave’s operational capabilities and market positioning in the AI cloud solutions industry.

CoreWeave Announces $1.5 Billion Senior Notes Offering

On May 19, 2025, CoreWeave, Inc. announced its intention to offer $1.5 billion in senior notes due 2030 in a private offering, aimed at qualified institutional buyers and non-U.S. persons. The proceeds are intended for general corporate purposes, including debt repayment. Additionally, CoreWeave is negotiating a new delayed draw term loan facility of up to $2.6 billion to finance equipment and infrastructure for a strategic customer, though the agreement is not yet finalized and remains subject to uncertainties.