CoreWeave (NASDAQ: CRWV) is currently trading around $77, approximately 49% below its 52-week high of $153.20, following news that Meta Platforms intends to establish its own AI cloud business, which may threaten CoreWeave’s position as one of Meta’s largest customers. In Q1 2026, CoreWeave’s revenue surged 112% year-over-year to $2.1 billion, but the company reported a net loss of $740 million, more than double the previous year’s loss of $315 million.
The firm has a backlog of contracts exceeding $99.4 billion, including a $21 billion agreement with Meta through 2032. Despite the high demand for AI computing capacity, CoreWeave’s heavy capital expenditures, projected between $31 billion to $35 billion this year, raise concerns about its financial sustainability amid growing debt and diminished pricing power as competitors emerge.
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