CoreWeave's Backlog Soars to $99.4B, NVIDIA Invests $2B in Strong Q1 Report
CRWV has more than doubled off its 52-week low of $50.18.
Summary
CoreWeave reported Q1 2026 revenue of $2.08 billion and a net loss of $740 million, alongside a significant adjusted EBITDA of $1.157 billion. The most impactful news is the surge in revenue backlog to an unprecedented $99.4 billion, a substantial increase from the $60.7 billion reported in the 2025 10-K. This quarter also saw the company secure an $8.5 billion non-recourse delayed draw term loan facility and a $2 billion Class A common stock investment from NVIDIA, further strengthening its capital base for expansion. Additionally, CoreWeave announced major new customer agreements, including a $21 billion commitment from Meta and a multi-year deal with Anthropic. These developments underscore robust demand for its AI cloud services and provide significant capital to fuel its aggressive growth strategy, despite the reported net loss. Investors will be watching the company's ability to execute on this massive backlog and manage its path to profitability.
At the time of this announcement, CRWV was trading at $132.64 on NASDAQ in the Technology sector, with a market capitalization of approximately $70.8B. The 52-week trading range was $50.18 to $187.00. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.