Added to YB: 2026-03-03
Pitch date: 2026-03-01
CRWV [neutral]
CoreWeave, Inc.
+56.06%
current return
Author Info
Beyond the Hype is writing about AI Infrastructure and Semiconductors - mainly CPUs, GPUs, Networking, and memory, with a smattering of Solar, BEVs, and Autonomous driving. Sign up for the newsletter.
Company Info
CoreWeave, Inc. operates as a cloud infrastructure technology company in the United States. The company offers CoreWeave Cloud platform that comprises proprietary software and cloud services that deliver the automation and efficiency needed to manage complex artificial intelligence (AI) infrastructure at scale.
Market Cap
$62.4B
Pitch Price
$76.61
Price Target
N/A
Dividend
N/A
EV/EBITDA
25.34
P/E
-42.31
EV/Sales
17.36
Sector
IT Services
Category
growth
CRWV Q4’25: A Rising Tide (Temporarily) Lifts All Boats
CRWV (earnings): Q4 rev $1.572B (+110% YoY), FY25 $5.13B. Backlog 4x YoY to $66.8B w/ ~5yr weighted contract length. Q4 CapEx $8.2B; FY26 CapEx >2x FY25's $14.9B. Adj op income compressed to $88M (6% margin); Q1'26 trough $0-40M before recovering to low double-digits by Q4'26. Mgmt targets 25-30% long-term margins post-normalization. Risks: aggressive buildout front-loads depreciation/lease costs before revenue recognition; Nvidia-only dependency vulnerable to AMD/ASIC share gains; 2026 CapEx requires continuous debt market access. $2B Nvidia investment secures early Rubin access H2'26. Storage >$100M ARR boosts stickiness. Active power 850 MW, targeting >1.7 GW by EOY'26. Strong demand masks structural issues but buys time to fix low margins & asset/contract mismatch.
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