CoreWeave (CRWV) AI Stock Analysis

• Market Cap: $44.00B
• Dividend Yield: N/A
• Average Volume (3M): 28.02M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.87
• Revenue Growth: 235.40%
• EPS Growth: 19.90%
• Country: US
• Employees: 881
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): -0.08
• Shares Outstanding: 386,401,200
• 10 Day Avg. Volume: 22,102,372
• 30 Day Avg. Volume: 28,022,129
• PEG Ratio: -0.32
• Price to Book (P/B): -39.11
• Price to Sales (P/S): 8.45
• P/FCF Ratio: -2.72
• Enterprise Value/Market Cap: 1.92
• Enterprise Value/Revenue: 19.59
• Enterprise Value/Gross Profit: 26.53
• Enterprise Value/Ebitda: 38.14
• 1Y Price Target: $146.65
• Price Target Upside: 66.08% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 25
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: $89.00 ▲(0.79% Upside)

CoreWeave, Inc. faces significant financial challenges, including high leverage and negative equity, which weigh heavily on its overall score. Despite strong revenue growth and positive corporate developments, the company's profitability issues and bearish technical indicators limit its attractiveness. The recent earnings call and corporate events provide some optimism for future growth, but financial stability remains a concern.

Positive Factors

Revenue Growth

The significant year-over-year revenue growth indicates strong market demand and effective business scaling, supporting long-term expansion.

Diversification of Revenue Base

Diversifying the revenue base reduces dependency on a few large clients, enhancing financial stability and resilience against market fluctuations.

Innovative Financing

Innovative financing strategies provide capital for expansion and operational improvements, supporting long-term growth and competitive positioning.

Negative Factors

High Leverage

High leverage and negative equity indicate financial instability, potentially limiting flexibility and increasing risk during economic downturns.

High Operating Expenses

High operating expenses can erode profitability, requiring efficient cost management to sustain margins and ensure long-term financial health.

CapEx and Construction Delays

Delays in capital expenditures and construction can hinder growth and operational efficiency, impacting future revenue generation and capacity expansion.

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 generates revenue primarily through its cloud services, where customers pay for access to its GPU computing power on a pay-as-you-go or subscription basis. This model allows businesses to scale their computing needs based on project demands without the upfront costs associated with purchasing hardware. Key revenue streams include hourly usage fees for GPU instances, managed services, and potentially long-term contracts with enterprise clients. Additionally, strategic partnerships with technology companies and integration with popular AI and ML frameworks enhance its service offerings and attract a broader customer base, thereby contributing to its overall earnings.

CoreWeave Financial Statement Overview

Summary

CoreWeave, Inc. Class A shows 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	4.31B	1.92B	228.94M
Gross Profit	3.18B	1.42B	160.16M
EBITDA	2.21B	480.04M	-426.43M
Net Income	-766.65M	-863.45M	-593.75M
Balance Sheet
Total Assets	32.91B	17.83B	4.98B
Cash, Cash Equivalents and Short-Term Investments	1.94B	1.36B	219.51M
Total Debt	18.81B	10.62B	2.00B
Total Liabilities	29.03B	18.25B	5.57B
Stockholders Equity	3.88B	-413.60M	-596.59M
Cash Flow
Free Cash Flow	-8.06B	-5.95B	-1.11B
Operating Cash Flow	1.69B	2.75B	1.83B
Investing Cash Flow	-9.81B	-8.66B	-3.15B
Financing Cash Flow	9.17B	7.46B	1.79B

CoreWeave Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MSFT	80 Outperform	$3.59T	34.37	32.24%	0.71%	15.59%	15.89%
DOCN	73 Outperform	$4.42B	19.60	―	―	14.20%	204.86%
ORCL	66 Neutral	$620.28B	50.37	71.15%	0.87%	9.67%	11.23%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SNOW	54 Neutral	$77.51B	―	-53.32%	―	28.48%	-19.12%
CRWV	51 Neutral	$44.00B	―	-29.17%	―	235.40%	19.90%
NBIS	46 Neutral	$24.42B	106.95	3.45%	―	-87.55%	336.73%

CoreWeave Corporate Events

CoreWeave Terminates Merger with Core Scientific

On October 30, 2025, CoreWeave announced the termination of its proposed merger with Core Scientific after the latter’s stockholders did not approve the merger agreement. Despite the setback, CoreWeave remains committed to its growth strategy and will continue its commercial partnership with Core Scientific, focusing on leveraging their complementary strengths.

CoreWeave Secures $3 Billion Loan for Expansion

On September 29, 2025, CoreWeave Compute Acquisition Co., IV, LLC, a subsidiary of CoreWeave, Inc., amended its existing credit agreement to include an additional $3 billion in delayed draw term loans. This amendment aims to enhance the company’s operational capacity by funding the acquisition and maintenance of essential equipment and infrastructure, potentially strengthening its market position and service offerings.

CoreWeave Secures Major Cloud Deal with Meta

On September 25, 2025, CoreWeave, Inc. and Meta Platforms, Inc. entered into a new order form under their existing Master Services Agreement, allowing Meta access to CoreWeave’s cloud computing capacity. Meta has committed to pay up to approximately $14.2 billion through December 14, 2031, with an option to expand the commitment through 2032, marking a significant impact on CoreWeave’s operations and positioning in the cloud computing market.

CoreWeave Secures Major Cloud Deal with OpenAI

On September 23, 2025, CoreWeave, Inc. and OpenAI OpCo, LLC entered into a new order form under their existing Master Services Agreement, allowing OpenAI access to CoreWeave’s cloud computing capacity. OpenAI has committed to paying CoreWeave up to $6.5 billion through May 31, 2031, marking the MSA as a material agreement. This development signifies a significant financial commitment from OpenAI and positions CoreWeave as a key player in providing cloud services to major AI companies.

CoreWeave Secures $6.3 Billion Deal with NVIDIA

On September 9, 2025, CoreWeave, Inc. and NVIDIA Corporation entered into a new order form under their existing Master Services Agreement, initially valued at $6.3 billion. This agreement allows NVIDIA to purchase any unsold cloud computing capacity from CoreWeave until April 13, 2032, ensuring optimal utilization of CoreWeave’s datacenter resources. The agreement is significant for CoreWeave, as it enhances its operational efficiency and strengthens its market position by securing a substantial commitment from a key partner and stakeholder.