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CoreWeave (CRWV) and Amazon (AMZN) are key players in AI-focused cloud infrastructure, with CoreWeave specializing in GPU-optimized compute for AI workloads and Amazon’s AWS offering extensive AI and high-performance cloud services. In its last quarter, CoreWeave reported a record revenue increase of 134%, now boasting a revenue backlog exceeding $55 billion. Amazon’s AWS revenues reached $33 billion, a year-over-year increase of 20.2%, representing 18.3% of total third-quarter sales.
CoreWeave has recently secured major compute contracts, including a multi-year deal with Meta valued at up to $14.2 billion and an expanded partnership with OpenAI worth up to $6.5 billion. The company also expanded its power capacity to 2.9 GW, with further capacity expected within the next year. Conversely, Amazon’s AWS is expanding its power capacity aggressively, targeting a doubling of capacity by 2027.
In terms of stock performance, CRWV has seen a decline of 28.3% in the past six months, while AMZN has increased by 12.6%. Valuation metrics indicate that CoreWeave is currently overvalued compared to Amazon, which has better growth potential driven by AWS’s demand for AI and cloud services.
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