Added to YB: 2026-03-03
Pitch date: 2026-03-01
CRWV [neutral]
CoreWeave, Inc.
+1.88%
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 a cloud platform that provides scaling, support, and acceleration for GenAI.
Market Cap
$41.5B
Pitch Price
$76.61
Price Target
N/A
Dividend
N/A
EV/EBITDA
20.32
P/E
-28.36
EV/Sales
13.28
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.
Read full article (3 min)