CoreWeave, Inc. (CRWV)

CoreWeave operates CoreWeave Cloud, an AI-focused cloud platform it calls "The Essential Cloud for AI." The platform supports the full AI lifecycle, including large-scale model training, inference, data movement, continuous iteration and agentic workflows. It combines proprietary software and orchestration, advanced infrastructure and managed cloud services in a vertically integrated, secure environment. The company argues that general-purpose clouds were not designed for the high-density compute, advanced networking, optimized storage and distributed-systems software that AI workloads require. Revenue was $5.1 billion in 2025, $1.9 billion in 2024 and $229 million in 2023, with net losses of $1.2 billion, $863 million and $594 million in those years.

Services are delivered through Infrastructure Services, Managed Software Services and Application Software Services. The stack includes a carrier-grade network backbone connecting data centers in North America and Europe, and foundational infrastructure built on NVIDIA GPU clusters (including GB200 and GB300 NVL72 systems) alongside AMD and Intel CPUs. It also includes AI-optimized object and file storage with Local Object Transport Accelerator (LOTA) caching, and the CoreWeave Kubernetes Service (CKS), which runs on bare metal. Proprietary CoreWeave Mission Control software handles orchestration, observability and remediation. Slurm on Kubernetes (SUNK) supports large research clusters. Developer tools come mainly from Weights & Biases, acquired in 2025, which covers model training, serving and agent monitoring. Other 2025 acquisitions were OpenPipe (reinforcement learning for agents), Marimo (an open-source notebook environment) and Monolith (simulation and machine learning for industrial customers).

Customers include leading enterprises, AI labs and technology companies deploying AI at scale. Most access the platform through multi-year committed take-or-pay contracts, and many have expanded their commitments over time. An on-demand pay-as-you-go option is also offered. Remaining performance obligations were $60.7 billion at December 31, 2025, versus $15.1 billion a year earlier, and committed contracts had a weighted-average duration of about five years. A go-to-market organization spanning sales, marketing, field engineering, support, partnerships and revenue operations is aligned by vertical and geography.

The company runs a distributed network of purpose-built data centers in the United States, Europe and Canada, across six countries and largely near major metropolitan areas. It operated 43 data centers with over 850 MW of active power at December 31, 2025, up from 10 data centers and about 70 MW at the end of 2023, and had about 3.1 GW of total contracted power. The facilities use closed-loop liquid cooling and hold SOC 2 and ISO/IEC 27001 certifications. CoreWeave sources components through relationships with semiconductor makers, OEMs, ODMs and software providers, and is expanding into self-built sites and further European growth. It finances infrastructure mainly with asset-level debt backed by take-or-pay contracts, supplemented by corporate equity and debt. It had 2,189 employees at year-end 2025, 1,967 of them in the United States. The text does not identify its competitors or headquarters.