CoreWeave, Inc. (CRWV), a cloud provider specializing in high-performance GPUs for AI, has seen its stock decline by approximately 34% over the past year, exceeding the Zacks Internet-Software Market’s drop of 16.7%. In stark contrast, its competitor Nebius Group N.V. (NBIS) experienced a significant rise of 315.2% during the same timeframe.
Despite its stock setbacks, CoreWeave reported first-quarter revenues of around $2.08 billion, more than doubling year over year, with a revenue backlog now at $99.4 billion. The company has plans to expand its data center capacity to five GW by 2030, supported by investments from NVIDIA, which recently increased its stake in CoreWeave to $2 billion.
While CoreWeave stands to benefit from the growing AI infrastructure market, challenges persist, including customer concentration risks and rising debt levels. As of March 31, 2026, the company had long-term debt of $25.4 million, with anticipated interest expenses increasing due to aggressive expansion plans.
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