AI neocloud · GPU rental

CoreWeave

A neocloud specialized in GPU compute. In 2025: 32 datacenters, 250k GPUs; Q1 2026 revenue $2.08B (>2x YoY), backlog ~$100B. OpenAI, Anthropic, Microsoft and Meta are key customers. NVIDIA invested $2B and agreed to buy unsold cloud capacity (a circular structure). First to offer NVIDIA GB200 via cloud.

CRWV Updated Jun 21, 2026

Annual return · 2026-06-18YTD+64.7%
Money in ▸OpenAI●Microsoft◐Meta Platforms◐Anthropic◐
CoreWeaveQ1 2026 revenue $2.08B, ~$100B backlog
▸ Money outNVIDIA●데이터센터·전력 (비공개)◐

Financials & Segments

  • Total revenue · Q1 2026 revenue $2.08B, ~$100B backlog
  • Customer concentration · OpenAI a top-2 customer; NVIDIA $2B investment.
  • Segments · GPU cloud (rental) · AI infrastructure

Revenue from

  • OpenAI High confidence
    Rents GPU-cloud compute to openai.
    Confirms KO ZDNet Korea Published Sep 16, 2025: "OpenAI is a top-2 CoreWeave customer renting GPU cloud."
  • Microsoft Medium confidence
    Rents GPU-cloud compute to microsoft.
    Confirms KO ZDNet Korea Published Sep 16, 2025: "Microsoft rents CoreWeave GPU cloud."
  • Meta Platforms Medium confidence
    Rents GPU-cloud compute to meta.
    Confirms KO ZDNet Korea Published Sep 16, 2025: "Meta signed a large CoreWeave compute deal."
  • Anthropic Medium confidence
    Rents GPU-cloud compute to anthropic.
    Confirms KO ZDNet Korea Published Sep 16, 2025: "Anthropic has a multi-year CoreWeave compute deal."

Pays to

  • NVIDIA High confidence
    Buys NVIDIA GPUs at scale ($6.3B+ orders); NVIDIA invests $2B and backstops unsold capacity.
    Confirms EN SEC EDGAR Published Mar 1, 2026: "CoreWeave 10-K: NVIDIA-GPU dependence and customer structure."
    Confirms KO Wowtale Published Jan 27, 2026: "NVIDIA invests $2B in CoreWeave and agrees to buy unsold capacity (circular)."
    Confirms KO ZDNet Korea Published Sep 16, 2025: "NVIDIA invests $2B in CoreWeave and agrees to buy unsold capacity (circular)."
  • 데이터센터·전력 (비공개) Medium confidence
    Datacenter lease, power and buildout costs.
    Confirms EN SEC EDGAR Published Mar 1, 2026: "Heavy capital into 32 datacenters, buildout and power."

Value-chain ripple (tiers 2–3)

Following node-to-node links up to 3 tiers; each firm is shown once, at its nearest tier.

CompanyChain'21'22'23'24'25YTD
Meta Platformslead1+23.1-64.2+194.1+65.9+13.1-12.3
Microsoftlead1+52.5-28+58.2+12.9+15.6-21.2
CoreWeavenode·····+64.7
NVIDIAbenef1+125.5-50.3+239+171.3+38.9+13.1
Kioxiabenef2····+1082.1+408.4
Micron Technologybenef2+24.1-46+72.1-1+240.5+297.6
SK hynixbenef2-0.4-25.6+53.9+48.6+361.1+204.7
Ibidenbenef2+30.4-19.6+51.6-38.6+261+199
Unimicronbenef2+133.5-30.2+35.2-19.7+175.7+155.7
ASE Technologybenef2+38.3-12.8+60.9+10.1+65.6+151.9
Astera Labsbenef2····+25.6+150.7
Nan Ya PCBbenef2+110.6-46.7-0.5-38.3+188.2+125
Samsung Electronicsbenef2-9-14.2+20.9-26.4+212.9+121
Coherentbenef2-10-48.6+24+117.6+94.8+111.1
Monolithic Powerbenef2+35.5-27.9+79.9-5.6+54.5+73.2
TSMCbenef2+12.1-36.8+42.5+92.9+56+53.3
King Yuan Electronics (KYEC)benef2+26.7-7.7+132.4+38.6+171+4.2
Samsung Electro-Mechanicsbenef3-11.8-18.5-1.4-2.5+110+713.6
LG Innotekbenef3+78.2-22-28.8-22.1+66.8+370.1
Jusung Engineeringbenef3+127.9-42.6+173.3-3.1+30.7+367
Arm Holdingsbenef3···+64.2-11.4+302
Cohubenef3-0.2-15.9+10.4-24.6-12.8+198.2
Kulicke & Soffabenef3+92.6-25.9+25.5-13.3-0.3+170
PSK Incbenef3+22.7-19.6+14.2-2.6+228.2+168.3
SUMCO Corporationbenef3-4.3-3.9+21.3-48.1+41.7+163.6
MediaTekbenef3+27.8-26.6+49+59.1+25.1+154.3
Daeduck Electronicsbenef3+64.2-0.3+13.3-22.7+250.2+148.3
Applied Materialsbenef3+83.6-37.5+68+1.1+59.6+140.7
Lam Researchbenef3+53.7-40.8+88.8-6.9+139.5+128.1
Teradynebenef3+36.8-46.3+24.8+16.5+54.4+126.4
GlobalWafersbenef3+27.3-30.3+14.4-38.9+51+123.3
KLAbenef3+68-11.2+56+9.4+94.5+114.2
Entegrisbenef3+44.6-52.5+83.5-17.1-14.6+112.5
Onto Innovationbenef3+112.9-32.7+124.6+9-5.3+111.4
Simmtechbenef3+119.6-34.6+12.4-63.3+392.9+105.5
Resonacbenef3-2.6-4+37.5+30.3+137.9+105.5
ASMPTbenef3-29-12.4+21.8-4.8+47.6+102.3
Foosungbenef3+59.9-33.5-34.5-39.1+67.4+100
BESIbenef3+33.7-6.1+121.8-9.3+35+89.5
Global Unichipbenef3+21.4+67.6+99.4-13.7+101.4+86.3
Tokyo Electron (TEL)benef3+40.4-14.5+89.8-4.4+61.6+84.1
Camtekbenef3+110.1-52.3+215.9+18.3+31.7+83.5
KC Techbenef3-24.2-6.1+57.9+5.9+56.7+82.2
ASMLbenef3+64.1-30.5+39.9-7.7+55.8+81
SCREEN Holdingsbenef3+40.7-13.2+220.1-24.1+84.9+71.9
Nepesbenef3-29.5-44+6.7-62.7+179.2+70.5
JCET (Jiangsu Changjiang Electronics)benef3-34+0.2-15.2+73.3+28+67.8
Tokyo Ohka Kogyo (TOK)benef3-2.7-3+63.8+4.3+111.5+52.9
Lasertecbenef3+78.9+2.4+57-60.6+138.9+51.4
ASM Internationalbenef3+44.2+2.9+68.7+10.3+25.9+50.8
Shin-Etsu Chemicalbenef3+6.3+3.1+57.8-15.6+7.6+43.8
Powertech Technology (PTI)benef3+4.8-7.5+86-16+128.6+43.1
Hanmi Semiconductorbenef3+98.5-21.7+313.1+93.7+87.9+40.2
Wonik IPSbenef3-19.7-19.8-0.2-25.5+408.8+36.4
Hana Micronbenef3+109-41+143.5-52.4+269.3+29.8
Disco Corporationbenef3-6.6+27.7+218.5+11.6+49.6+29
Wonik QnCbenef3+26.2+2+11.9-33.7+53.4+25.1
Advantestbenef3+17-2.3+155.7+49.5+196+24.6
Cadence Design Systemsbenef3+36.6-13.8+69.6+10.3+4+23.9
ISCbenef3+43.2+14.2+116.5-11.9+126.8+23.4
HPSPbenef3··+216.5-30.4+54.7+21.7
Dongjin Semichembenef3+28.1-13.7+16.1-42.8+160.1+7.7
Photronicsbenef3+68.9-10.7+86.4-24.9+35.8+5.1
Eugene Technologybenef3-33.1-48.7-3.7-3.3+25.7-1.5
Synopsysbenef3+42.1-13.4+61.3-5.7-3.2-3
Hana Materialsbenef3+106-30.5+26.1-47.4+173.9-3.6
Uni Testbenef3+23.4-57.8+11.3-1.6+6.8-5.1
Leeno Industrialbenef3+21-5.3+18.3+9.5+150.1-12.6
SFA Semiconbenef3-5.8-34.1+48.7-48.7+139.8-13.3
ENF Technologybenef3-32.9-23.6+1.3-16.1+204.6-13.9
Park Systemsbenef3+25.1+1.6+41.6+37.3+28.9-15.8
Soulbrainbenef3-8.2-3.9+16.6-37.6+192.8-24.6
S&S Techbenef3-17.3-5+45.8-31.2+210.8-33.6

YTD as of 2026-06-18 · source: Yahoo Finance

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