By Harsh Chauhan
Publication Date: 2026-02-01 14:30:00
CoreWeave could quadruple its revenue in the next two years.
Demand for artificial intelligence (AI) data center capacity is insatiable, and hyperscalers and AI companies have been taking up all that’s available. This explains why neocloud provider CoreWeave (CRWV 6.37%) has been witnessing stunning growth in its revenue backlog.
CoreWeave rents out its dedicated AI data center capacity to hyperscalers such as Microsoft and Meta Platforms, as well as large language model leader OpenAI and other customers. The key parallel processing power in its data centers primarily comes from Nvidia‘s (NVDA 0.72%) graphics processing units (GPUs). But CoreWeave is more than just an Nvidia customer — the chipmaker recently tightened its relationship with the neocloud provider.
Image source: Nvidia.
CoreWeave’s growth could accelerate thanks to the latest investment
On Jan. 26, Nvidia and CoreWeave announced that they are expanding their prior relationship, under which the graphics card giant had committed $6.3 billion to purchase any unsold data center capacity that CoreWeave had through April 2032. Their new agreement will see Nvidia investing $2 billion in CoreWeave at a price of $87.20 per share.
Today’s Change
(-6.37%) $-6.34
Current Price
$93.19
Key Data Points
Market Cap
$46B
Day’s Range
$92.50 – $99.50
52wk Range
$33.52 – $187.00
Volume
25M
Avg Vol
30M
Gross Margin
49.23%
The press release announcing the agreement pointed out that it will “enable CoreWeave to accelerate the buildout of more…
