CoreWeave (NASDAQ: CRWV) has rapidly established itself in the stock market since its IPO in late March 2023, despite initial challenges. The company’s revenue has skyrocketed by over 400%, reaching $981 million and surpassing analysts’ expectations. Looking ahead, CoreWeave’s revenue is projected to grow to $1.9 billion by 2024, up from $16 million in 2022.
CoreWeave benefits from a strategic relationship with Nvidia (NASDAQ: NVDA), which holds a 7% stake in the company. It utilizes a fleet of 250,000 GPUs across more than 30 data centers for its AI services. Notably, Microsoft has been a significant customer, generating 35% of CoreWeave’s revenue in 2023 and 62% in 2024. Since its initial struggles, CoreWeave’s stock price has appreciated by more than 280%
