CRWV
CoreWeave, Inc.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for CoreWeave, Inc..
Coverage
Anthropic Has Contracted 1.19 GW. Half of It Costs $2.37M per MW-Year, the Other Half $15.46M.
Four reported Anthropic capacity deals total 1,185 MW for $83.1B, and split by term they are two products: $2.37M per MW-year on 20-year leases, $15.46M on six.
Broadcom May Raise $60B for AI Deals. Its 10-Q Already Disclosed a $29B Lease Backstop.
Bloomberg says Broadcom may raise $60B for AI deals. Its 10-Q already discloses the shape: a $29B lease backstop — 44.7% of total debt — behind Apollo's racks.
CoreWeave Owes $64.6B in Rent Against $35.1B of Debt—and One $14.7B Lease Is Excluded.
CoreWeave's 10-Q discloses $64.6B of committed and signed lease payments against $35.1B of debt — excluding one $14.7B site and 355 MW it cannot quantify.
The Neocloud "Revenue per Megawatt" Ranking Is Measuring Contract Length, Not Efficiency
The circulating revenue-per-megawatt neocloud table mixes multi-year backlog with annual figures and never divides by years. Fixed, first and seventh swap.
Nvidia's Disclosed Stock Portfolio Grew $45 Billion Last Quarter. It Bought One Thing.
Nvidia's Q2 13F shows eight positions worth $63.4B, up $45B in a quarter. Seven share counts are unchanged: the move is one new position and Intel tripling.
CoreWeave's Operating Leverage Arrived. So Did $640 Million of Interest.
CoreWeave's Q2: revenue $2.575B up 112%, first positive operating cash flow, backlog $104B. Interest hit $640M, debt grew $13.7B, free cash flow was −$5.74B.
Capital expenditure and cash flow are too large relative to current revenue for the combined Rule of 40 score to be meaningful.
Quarter contextWhere the revenue goes next
Latest: $2.58B (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | $189M |
| 2024Q2 | $395M |
| 2024Q3 | $584M |
| 2024Q4 | $747M |
| 2025Q1 | $982M |
| 2025Q2 | $1.21B |
| 2025Q3 | $1.36B |
| 2025Q4 | $1.57B |
| 2026Q1 | $2.08B |
| 2026Q2 | $2.58B |
Latest: -$1.14 (2026Q2)
| Period | Value |
|---|---|
| 2025Q1 | -$1.49 |
| 2025Q2 | -$0.60 |
| 2025Q3 | -$0.22 |
| 2025Q4 | -$0.94 |
| 2026Q1 | -$1.40 |
| 2026Q2 | -$1.14 |
Latest: -$5.74B (2026Q2)
| Period | Value |
|---|---|
| 2025Q1 | -$1.35B |
| 2025Q2 | -$2.70B |
| 2025Q3 | -$700M |
| 2025Q4 | -$2.50B |
| 2026Q1 | -$4.71B |
| 2026Q2 | -$5.74B |
Latest: 551M (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | 209M |
| 2024Q2 | 210M |
| 2024Q3 | 214M |
| 2025Q1 | 249M |
| 2025Q2 | 487M |
| 2025Q3 | 498M |
| 2026Q1 | 527M |
| 2026Q2 | 551M |
Latest: -$17.70B (2026Q2)
| Period | Value |
|---|---|
| 2025Q1 | -$1.35B |
| 2025Q2 | -$4.05B |
| 2025Q3 | -$4.75B |
| 2025Q4 | -$7.25B |
| 2026Q1 | -$11.96B |
| 2026Q2 | -$17.70B |
Latest earnings
Company History
Long-term deals with OpenAI, Meta, Microsoft nearly doubled backlog; shifted focus to execution
Stock soared ~400-500%+ on massive contracts, NVIDIA partnerships, and AI boom
Transitioned from private (formerly Atlantic Crypto) to Nasdaq: CRWV; initial hype as AI/GPU cloud specialist
Executive sales to cover taxes; minor but noted amid valuation debate
Major endorsement; triggered upgrades and reinforced data center expansion plans
Key catalyst for capacity updates, backlog conversion, and guidance amid valuation debate
Plunged ~20% intraday on AI capex fears, then rebounded ~20%+; sensitivity to AI spending narrative
From crypto mining origins to full AI cloud focus; adding next-gen NVIDIA tech; CapEx-heavy model
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By latest reported 13F position value. Market value at quarter-end, not cost basis.
