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CoreWeave

CRWV·NASDAQ·USD

59.57+4.38 (+7.94%)
Regular-session close·Definitions

Committed compute: connect contracts, delivery and financingBusiness mechanism

Price history2025-03-28 — 2026-10-23Valid trading days: 396 · Through 2026-10-23 · All expected trading dates since listing are present · History update delayed
Operating history2024-03-31 — 2026-06-307 historical metrics · 10 workpaper periods
Coverage limitations

Daily history updates are delayed. Available history through 2026-10-23 remains visible; a current quote does not establish that daily history has been updated.

Requests to the historical-data source are rate limited, delaying daily-price updates. Existing verified periods are retained; trading days not yet retrieved are not fabricated.

The first price observation reaches the verified listing date. This does not mean that security continuity, every trading day and adjusted prices have all been verified throughout the history.

The first price reaches the verified listing date 2025-03-28. Trading-date coverage and price verification are shown separately below.

Trading dates checked for 2025-03-28 — 2026-10-23: all 396 expected dates are present. Complete dates do not establish independent verification of every price.

Security basis: The current security identity has been checked. Continuity with earlier issuers has not been independently verified; listing-date coverage is shown separately. Historical closes use the provider's split adjustments and exclude dividend distributions. Full-history adjustment factors have not been independently recalculated. Price changes do not represent total returns including dividends.

Original verification records

verified-listing-start-covered

History update reason: source-rate-limited-until 2026-10-28T04:39:08.620Z

The company annual report confirms that Class A common stock began trading on Nasdaq on 2025-03-28.

View sources and versions ↗
Financial drivers from public filings · single quarter

Compare growth, earnings, cash flow and capital investment for aligned reporting periods to examine company-wide financial drivers. Calculation inputs and original filings remain available.

Coverage and applicability

2024-03-31 — 2026-06-30 · Valid observations: 66. These observations analyze public financial data; they are not a standalone sector research report, score or price target. Company-wide figures do not replace segment, product or contract disclosures.

  • Days sales outstanding (average balance): Applicable definitions of trade receivables, inventory and purchase costs have not been established for this business. A manufacturing cash-conversion cycle is therefore not applied.
  • Days inventory outstanding (average balance): Applicable definitions of trade receivables, inventory and purchase costs have not been established for this business. A manufacturing cash-conversion cycle is therefore not applied.
  • Days payable outstanding (average balance): Applicable definitions of trade receivables, inventory and purchase costs have not been established for this business. A manufacturing cash-conversion cycle is therefore not applied.
  • Cash conversion cycle (average balances): Applicable definitions of trade receivables, inventory and purchase costs have not been established for this business. A manufacturing cash-conversion cycle is therefore not applied.
  • Cash purchases of productive assets / revenue: The selected capital-expenditure measure does not represent the broader concept of productive-asset purchases.

Price and operations

Research history
Reproducible calculations from public filings, without inferring segment-level results.

Period end is the end of the operating period. Source-publication mode uses the publication date of the document selected, without asserting that it was the first disclosure. Expand the notes below the chart for definitions and sources.

Add metrics 3
Available metrics: 7

Financials and cash flow

Last value in range
CRWV Share priceTrading day
USD507510012515054.24
Operating marginQuarterly observations
%-8-6-4-20-1.9
Net marginQuarterly observations
%-40-35-30-25-20-24.3
(CFO − cash purchases of PP&E) / revenueQuarterly observations
%-250-225-200-175-15025.10.2326.01.0126.04.0126.07.0126.10.23-223

Time rangeCRWV Share price

2025-10-23 — 2026-10-23
Methodology and controls

Each panel has its own value axis; dates and the cursor are synchronized. Operating data appear only on their observed dates; other dates are left blank. US daily prices are checked against the verified 1997–2027 trading calendar. A missing expected trading day breaks the line; weekends and recorded exchange holidays do not. Operating data are positioned at the actual period end, which is not necessarily the date of public disclosure. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

Underlying data Operating metrics: 3
Observations in this chart, including unverified periods or dates · original values and source versions retained
Selected operating metrics; records with values and current chart gaps appear first. Unverified dates are excluded from charts.
Reporting period endOperating margin% · Calculated from disclosuresNet margin% · Calculated from disclosures(CFO − cash purchases of PP&E) / revenue% · Calculated from disclosures
2026-06-302026-06-30-1.90%
Basis · Calculated from disclosures

Source version date: 2026-08-12

View calculation inputs · 4 items
Currency
USD
operatingIncome
-49,000,000
Revenue
2,575,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:OperatingIncomeLoss
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
-49,000,000
Filing date
2026-08-12
form
10-Q
accn
0001769628-26-000366
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000366
1
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
2,575,000,000
Filing date
2026-08-12
form
10-Q
accn
0001769628-26-000366
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000366
CRWV · 10-Q · Filing version 2026-08-12
-24.31%
Basis · Calculated from disclosures

Source version date: 2026-08-12

View calculation inputs · 4 items
Currency
USD
Net income
-626,000,000
Revenue
2,575,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
-626,000,000
Filing date
2026-08-12
form
10-Q
accn
0001769628-26-000366
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000366
1
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
2,575,000,000
Filing date
2026-08-12
form
10-Q
accn
0001769628-26-000366
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000366
CRWV · 10-Q · Filing version 2026-08-12
-223.03%
Basis · Calculated from disclosures

Source version date: 2026-08-12

View calculation inputs · 5 items
Currency
USD
Operating cash flow
679,000,000
Cash capital expenditure
6,422,000,000
Revenue
2,575,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
Original unit
USD
Period start
2026-01-01
Period end
2026-06-30
value
3,663,000,000
Filing date
2026-08-12
form
10-Q
accn
0001769628-26-000366
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000366
1
role
numerator
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
2,984,000,000
Filing date
2026-05-08
form
10-Q
accn
0001769628-26-000222
Input sign
-1
sourceIds
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crwv-sec-0001769628-26-000222
2
role
numerator
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
Original unit
USD
Period start
2026-01-01
Period end
2026-06-30
value
14,117,000,000
Filing date
2026-08-12
form
10-Q
accn
0001769628-26-000366
Input sign
-1
sourceIds
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crwv-sec-0001769628-26-000366
3
role
numerator
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
7,695,000,000
Filing date
2026-05-08
form
10-Q
accn
0001769628-26-000222
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000222
4
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
2,575,000,000
Filing date
2026-08-12
form
10-Q
accn
0001769628-26-000366
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000366
CRWV · 10-Q · Filing version 2026-08-12CRWV · 10-Q · Filing version 2026-05-08
2026-03-312026-03-31-6.93%
Basis · Calculated from disclosures

Source version date: 2026-05-08

View calculation inputs · 4 items
Currency
USD
operatingIncome
-144,000,000
Revenue
2,078,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:OperatingIncomeLoss
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
-144,000,000
Filing date
2026-05-08
form
10-Q
accn
0001769628-26-000222
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000222
1
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
2,078,000,000
Filing date
2026-05-08
form
10-Q
accn
0001769628-26-000222
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000222
CRWV · 10-Q · Filing version 2026-05-08
-35.61%
Basis · Calculated from disclosures

Source version date: 2026-08-12

View calculation inputs · 4 items
Currency
USD
Net income
-740,000,000
Revenue
2,078,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
-740,000,000
Filing date
2026-08-12
form
10-Q
accn
0001769628-26-000366
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000366
1
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
2,078,000,000
Filing date
2026-05-08
form
10-Q
accn
0001769628-26-000222
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000222
CRWV · 10-Q · Filing version 2026-08-12CRWV · 10-Q · Filing version 2026-05-08
-226.71%
Basis · Calculated from disclosures

Source version date: 2026-05-08

View calculation inputs · 5 items
Currency
USD
Operating cash flow
2,984,000,000
Cash capital expenditure
7,695,000,000
Revenue
2,078,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
2,984,000,000
Filing date
2026-05-08
form
10-Q
accn
0001769628-26-000222
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000222
1
role
numerator
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
7,695,000,000
Filing date
2026-05-08
form
10-Q
accn
0001769628-26-000222
Input sign
-1
sourceIds
0
crwv-sec-0001769628-26-000222
2
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
2,078,000,000
Filing date
2026-05-08
form
10-Q
accn
0001769628-26-000222
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000222
CRWV · 10-Q · Filing version 2026-05-08
2025-12-312025-12-31-5.70%
Basis · Calculated from disclosures

Source version date: 2026-03-02

View calculation inputs · 4 items
Currency
USD
operatingIncome
-89,589,000
Revenue
1,571,904,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:OperatingIncomeLoss
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
-46,000,000
Filing date
2026-03-02
form
10-K
accn
0001769628-26-000104
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000104
1
role
numerator
Original XBRL field
us-gaap:OperatingIncomeLoss
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
43,589,000
Filing date
2025-11-13
form
10-Q
accn
0001769628-25-000062
Input sign
-1
sourceIds
0
crwv-sec-0001769628-25-000062
2
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
5,131,000,000
Filing date
2026-03-02
form
10-K
accn
0001769628-26-000104
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000104
3
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
3,559,096,000
Filing date
2025-11-13
form
10-Q
accn
0001769628-25-000062
Input sign
-1
sourceIds
0
crwv-sec-0001769628-25-000062
CRWV · 10-K · Filing version 2026-03-02CRWV · 10-Q · Filing version 2025-11-13
-28.74%
Basis · Calculated from disclosures

Source version date: 2026-03-02

View calculation inputs · 4 items
Currency
USD
Net income
-451,726,000
Revenue
1,571,904,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
-1,167,000,000
Filing date
2026-03-02
form
10-K
accn
0001769628-26-000104
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000104
1
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
-715,274,000
Filing date
2025-11-13
form
10-Q
accn
0001769628-25-000062
Input sign
-1
sourceIds
0
crwv-sec-0001769628-25-000062
2
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
5,131,000,000
Filing date
2026-03-02
form
10-K
accn
0001769628-26-000104
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000104
3
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
3,559,096,000
Filing date
2025-11-13
form
10-Q
accn
0001769628-25-000062
Input sign
-1
sourceIds
0
crwv-sec-0001769628-25-000062
CRWV · 10-K · Filing version 2026-03-02CRWV · 10-Q · Filing version 2025-11-13
-159.09%
Basis · Calculated from disclosures

Source version date: 2026-03-02

View calculation inputs · 5 items
Currency
USD
Operating cash flow
1,558,949,000
Cash capital expenditure
4,059,761,000
Revenue
1,571,904,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
3,058,000,000
Filing date
2026-03-02
form
10-K
accn
0001769628-26-000104
Input sign
1
sourceIds
0
crwv-sec-0001769628-26-000104
1
role
numerator
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
1,499,051,000
Filing date
2025-11-13
form
10-Q
accn
0001769628-25-000062
Input sign
-1
sourceIds
0
crwv-sec-0001769628-25-000062
2
role
numerator
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
10,309,000,000
Filing date
2026-03-02
form
10-K
accn
0001769628-26-000104
Input sign
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sourceIds
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crwv-sec-0001769628-26-000104
3
role
numerator
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
6,249,239,000
Filing date
2025-11-13
form
10-Q
accn
0001769628-25-000062
Input sign
1
sourceIds
0
crwv-sec-0001769628-25-000062
4
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
5,131,000,000
Filing date
2026-03-02
form
10-K
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0001769628-26-000104
Input sign
1
sourceIds
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crwv-sec-0001769628-26-000104
5
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
3,559,096,000
Filing date
2025-11-13
form
10-Q
accn
0001769628-25-000062
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crwv-sec-0001769628-25-000062
CRWV · 10-K · Filing version 2026-03-02CRWV · 10-Q · Filing version 2025-11-13
Calculations and sources 3 items
Operating margin% · Calculated from disclosures
Calculation basis

Operating income / revenue × 100

Reading guide

Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Net margin% · Calculated from disclosures
Calculation basis

Selected net-income concept / revenue × 100

Reading guide

May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

(CFO − cash purchases of PP&E) / revenue% · Calculated from disclosures
Calculation basis

(Operating cash flow − cash purchases of PP&E) / revenue × 100

Reading guide

A free-cash-flow proxy deducting only identified PP&E purchases. It does not deduct acquisitions, capital prepayments, intangible assets or lease principal, and does not establish cash distributable to common shareholders. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Business and operating model

Where revenue comes from and which operating changes still require verification.

Company filings ↗

The filings show revenue from committed contracts and on-demand cloud services. RPO is the transaction price allocated to unfulfilled obligations, net of estimated variable consideration, and may be affected by delayed delivery, service-availability credits and resalable capacity; it is neither current-period revenue nor cash already received. [1]

Primary company business materials are availableCheck supporting sources ↗
How revenue, profit and capital connect
Operating mechanismHow operating results are affectedVerifiable metrics
RPO → billable capacity → revenue

Track the expected timing of RPO recognition and actual delivery; growth in period-end contract balances may precede cash and revenue realization.

[1]
Facility delivery → debt amortization

DDTL terms include site-delivery conditions and triggers for amortization. Financing costs and payment obligations require individual review even when customers are delayed.

[1]
Customer concentration → collection risk

Revenue concentration and receivables concentration are disclosed separately and should be assessed together; letter-designated customer identities are not automatically linked across periods.

[1]
Products, paying customers and use cases

Products and services

Committed cloud-computing services
Customer-committed revenue includes capacity delivered early and should be distinguished from on-demand services. [1]
Delivery infrastructure
Third-party data-center, power, network and liquid-cooling readiness jointly constrain the services that can be provided. [1]

Customers and demand

Customers A/B/C
Major customers in 2026 Q2 use letter designations. The filing explicitly states that these may differ from earlier periods; they are not identified as Microsoft or other companies. [1]
OpenAI / Meta
Risk factors describe specific order arrangements; contract ceilings and future durations do not constitute this quarter's revenue. [1]
How supply, demand and capital affect the company
Upstream

Core Scientific, Inc. Offtake and leasing

AI colocation lease · 590MW critical IT (800MW gross) · 12 years + two 5-year extensions · take-or-pay fixed price with annual escalators · contract revenue flows into $3.3B notes lockbox [5]

Signed or existing
Upstream

Galaxy Digital Inc. Offtake and leasing

CoreWeave leases Helios Phases I–III: 800 MW of gross campus power and 526 MW of critical IT capacity. The base term is 15 years, with two additional five-year extension options. Phase I, comprising 133 MW of critical IT capacity, was fully delivered in Q2 2026. The company forecasts average annual revenue above USD 1.2 billion over the lease term for all 526 MW. This is neither recognized revenue nor total contract value. [6]

Signed or existing
Upstream

Bloom Energy Corporation Offtake and leasing

On-site fuel cell power for an AI data center · Chirisa Technology Parks facility in Volo, Illinois · expected commissioning in Q3 2025 · capacity and value not disclosed [8]

Signed or existing
Upstream

NVIDIA Equipment and engineering

Collaboration framework entered 2026-01-23 to accelerate CoreWeave's buildout of more than 5 GW of AI factories by 2030, developed and operated by CoreWeave using NVIDIA's computing platform technology; expressly subject to future execution of additional agreements and/or order forms [9]

Framework or indication of intent
Upstream

Blockfusion USA, Inc. (via wholly owned subsidiary North East Data, LLC; to become Blockfusion Digital Infrastructure, Inc. through SPAC merger with Blue Acquisition Corp., Nasdaq: BACC) Offtake and leasing

Definitive 15-year anchor colocation lease (two 5-year renewal options) for capacity at Blockfusion's Niagara Falls, NY campus, a converted power plant running predominantly on hydro; lessor is Blockfusion subsidiary North East Data, LLC; lease dated 2026-09-04; companion Expansion Agreement, under which CoreWeave's obligation to lease expansion capacity is conditional on firm power commitments and its approval of the power infrastructure plan; converts the non-binding LOI announced 2026-06-30 (tenant then unnamed; up to 300 MW critical IT anchored by 85 MW take-or-pay); MW and contract value of the definitive lease not disclosed [13]

Signed or existing
Upstream

AdaniConneX Offtake and leasing

Taloja collaboration for 240MW, initial phase targeted for mid-2028, with another 240MW opportunity. Definitive lease not verified; optional expansion excluded from base capacity. [15]

Framework or indication of intent
Downstream

NVIDIA Offtake and leasing

unsold capacity offtake · initial $6.3bn · obligation through 2032-04-13 [3]

Signed or existing
Downstream

Microsoft Customer

67% of CoreWeave FY2025 revenue (named in 10-K); 2026Q2 10-Q gives letter codes only · 36% Customer A not confirmed as Microsoft [4]

Signed or existing
Downstream

Cognition AI, Inc. Customer

Named in CoreWeave's Q2 2026 earnings release (8-K exhibit) among existing enterprise and AI-native customers whose relationships were expanded in the quarter; no contract value disclosed [10]

Signed or existing
Downstream

Databricks, Inc. Customer

Named in CoreWeave's Q2 2026 earnings release (8-K exhibit) among existing enterprise and AI-native customers whose relationships were expanded in the quarter; no contract value disclosed [11]

Signed or existing
Downstream

Hudson River Trading LLC Customer

Named in CoreWeave's Q2 2026 earnings release (8-K exhibit) among existing customers whose relationships were expanded in the quarter; quantitative trading counterparty; no contract value disclosed [12]

Signed or existing
Funding sources

JPMorgan Capital and financing

DDTL 5.5 facility $2.6bn · SOFR+550bp · administrative agent [2]

Signed or existing
Uses of funds

Galaxy Digital Inc. Capital and financing

Deferred lease revenue was USD 150 million at June 30, 2026, unchanged from the opening balance. Both new rent prepayments and amounts recognized as revenue were zero during the period shown. The USD 150 million was received in 2025 and is not new cash received in Q2 2026. [7]

Signed or existing
Uses of funds

Blockfusion USA, Inc. (via wholly owned subsidiary North East Data, LLC; to become Blockfusion Digital Infrastructure, Inc. through SPAC merger with Blue Acquisition Corp., Nasdaq: BACC) Capital and financing

Series A common stock purchase warrant issued by Blockfusion to CoreWeave on 2026-09-04 in connection with the Niagara Falls lease: 2,786,624 shares at an initial exercise price of $7.6898; to be cancelled at the SPAC merger effective time and replaced by a Pubco warrant for 2,870,813 Class A shares at $7.4643; first disclosed in the Sixth Amendment to the Business Combination Agreement [14]

Option
Verify entities, agreements and primary sources in the relationship map ↗
Company profile and filings
Legal name
CoreWeave, Inc.
Exchange / quote currency
NASDAQ / USD
Reporting currency
USD
Source industry classification
Computer Software: Prepackaged Software
Financial period end / Source version used
2026-06-30 / 2026-08-12
Value-chain roles (not revenue shares)
Cloud and compute rental
Check SEC filings index ↗

Related companies in the value chain

Shared value-chain roles do not establish direct peer status or valuation comparability.

Operating observations and counterevidence

Continue checking facts that could change the conclusions; no hypothetical thresholds are assigned to observations without reliable inputs.

Evidence and gaps ↗
02

Delivery timing and RPO duration

Verify actual compute capacity in use, delivery delays and RPO-recognition horizons in each period; planned or contracted MW is not commissioned capacity. [1]

Verify operating disclosures in the primary sources

What evidence would weaken these conclusions?

  • Delivery delays erode cash flow

    If delivery delays reduce revenue or trigger credits while amortization and lease payments increase, RPO growth does not offset that risk. [1]

    Verify operating disclosures in the primary sources
  • Changing letters do not establish customer diversification

    If concentration remains high or receivables are concentrated and customer identities are unverified, changes in letter designations do not establish that concentration risk has disappeared. [1]

    Verify operating disclosures in the primary sources
Conclusions not yet supported
Can RPO be fitted directly to establish a causal link with share prices?
The filing version used may include revisions to earlier periods, and contract balances and prices have different frequencies. Comparisons are contemporaneous or lagged observations, without claims of causality or backtestability. [1]
Can actual utilization be plotted as a continuous series?
A verifiable quarterly utilization series has not been established; utilization must not be inferred from contracted MW or RPO. [1]
MARKET DATA

Quote details

Candlesticks, volume and cross-company prices

59.57 +7.94%
2026-07-23 — 2026-10-23Price change over the selected period -33.13%
Provider split-adjusted prices excluding dividends, USD. Recorded trading days are equally spaced from 2026-07-23 to 2026-10-23 (66 trading days). Volume is shown separately in shares.USD40608010012054.24Volume · shares2026-07-23 Volume 18,173,700 shares2026-07-24 Volume 25,487,800 shares2026-07-27 Volume 17,999,200 shares2026-07-28 Volume 29,855,900 shares2026-07-29 Volume 37,130,100 shares2026-07-30 Volume 44,148,900 shares2026-07-31 Volume 26,415,900 shares2026-08-03 Volume 44,558,900 shares2026-08-04 Volume 33,601,300 shares2026-08-05 Volume 20,798,100 shares2026-08-06 Volume 16,601,400 shares2026-08-07 Volume 18,664,100 shares2026-08-10 Volume 20,894,800 shares2026-08-11 Volume 46,381,400 shares2026-08-12 Volume 87,308,400 shares2026-08-13 Volume 50,680,200 shares2026-08-14 Volume 33,337,900 shares2026-08-17 Volume 32,398,500 shares2026-08-18 Volume 38,029,200 shares2026-08-19 Volume 26,700,900 shares2026-08-20 Volume 17,649,000 shares2026-08-21 Volume 22,187,500 shares2026-08-24 Volume 19,581,400 shares2026-08-25 Volume 14,224,300 shares2026-08-26 Volume 14,056,800 shares2026-08-27 Volume 19,872,200 shares2026-08-28 Volume 17,332,100 shares2026-08-31 Volume 13,237,900 shares2026-09-01 Volume 15,848,700 shares2026-09-02 Volume 15,574,700 shares2026-09-03 Volume 18,798,400 shares2026-09-04 Volume 20,796,900 shares2026-09-08 Volume 51,191,200 shares2026-09-09 Volume 22,038,800 shares2026-09-10 Volume 27,867,100 shares2026-09-11 Volume 17,682,400 shares2026-09-14 Volume 26,522,600 shares2026-09-15 Volume 15,675,200 shares2026-09-16 Volume 18,787,600 shares2026-09-17 Volume 79,547,300 shares2026-09-18 Volume 66,370,200 shares2026-09-21 Volume 39,845,100 shares2026-09-22 Volume 26,584,500 shares2026-09-23 Volume 31,705,100 shares2026-09-24 Volume 33,748,900 shares2026-09-25 Volume 23,569,300 shares2026-09-28 Volume 19,752,200 shares2026-09-29 Volume 26,027,100 shares2026-09-30 Volume 22,348,100 shares2026-10-01 Volume 20,464,600 shares2026-10-02 Volume 23,591,600 shares2026-10-05 Volume 18,240,600 shares2026-10-06 Volume 32,051,300 shares2026-10-07 Volume 19,905,100 shares2026-10-08 Volume 42,321,300 shares2026-10-09 Volume 20,011,400 shares2026-10-12 Volume 19,024,300 shares2026-10-13 Volume 34,284,900 shares2026-10-14 Volume 111,214,200 shares2026-10-15 Volume 130,537,200 shares2026-10-16 Volume 95,394,200 shares2026-10-19 Volume 101,010,700 shares2026-10-20 Volume 94,778,100 shares2026-10-21 Volume 76,589,500 shares2026-10-22 Volume 81,776,900 shares2026-10-23 Volume 46,499,600 shares130.5M007-2308-1409-0910-0110-23
Daily · Provider split-adjusted prices, excluding dividends · USD · Valid closes: 396 / trading dates: 396Market data source
MARKET & FUNDAMENTALS

Quote and valuation methodology

Data timestamps

Trading overview

Previous close
55.19
Session open
56.71
Session range
55.36 – 59.95
Session volume
53.55 M
20 Average daily volume
51.79 M
Historical range
33.51 – 187.00

Valuation and cash

Market cap · USD
33.99 B
Price / sales · TTM
4.48
Free cash flow yield
-40.17%

Financial denominator

Revenue · TTM
7.59 B USD
Period end
2026-06-30
Source version
2026-08-12

Quote 2026-10-27Market cap retrieved 2026-10-28Financial period end 2026-06-30

Research archiveNo standalone articles or full reports for this company have been included yet

Public financial and operating analysis is available. Standalone research has not yet been published; exploreOperating data、Financial comparison and SourceSource document。

Financial comparison

Select two specific periods to compare changes in scale, earnings and cash.

Quarter · As of 2026-06-30Source version used 2026-08-12 · Original currency USD
USD · Quarter
Current period 2026-04-01 — 2026-06-30Comparison period 2026-01-01 — 2026-03-31
Financial comparison of two defined periods; expand values for source records
Line itemCurrent periodComparison periodAmount changeGrowth
RevenueRecognized revenue; growth is calculated only when the comparison-period base is positive
2.58 B

Raw value 2,575,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

2.08 B

Raw value 2,078,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+497.00 M+23.92%
Operating incomeOperating margin -1.90% · Change +5.03 percentage points
-49.00 M

Raw value -49,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

-144.00 M

Raw value -144,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+95.00 M—
Net incomeNet margin -24.31% · Change +11.30 percentage points
-626.00 M

Raw value -626,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

-740.00 M

Raw value -740,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+114.00 M—
Operating cash flowOperating cash flow / revenue 26.37% · Change -117.23 percentage points
679.00 MDerived by subtraction

Raw value 679,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 3.66 B USD · Source version 2026-08-12
  • Subtract: 2026-01-01 — 2026-03-31 · 2.98 B USD · Source version 2026-05-08
2.98 B

Raw value 2,984,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

-2.31 B-77.25%
Capital expenditureCapital expenditure / revenue 249.40% · Change -120.91 percentage points
6.42 BDerived by subtraction

Raw value 6,422,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 14.12 B USD · Source version 2026-08-12
  • Subtract: 2026-01-01 — 2026-03-31 · 7.70 B USD · Source version 2026-05-08
7.70 B

Raw value 7,695,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

-1.27 B-16.54%
Comparable values unavailable for the two selected periods · Gross profit
  • Gross profit:Reported value unavailable; Reported value unavailable.
Check filing sources ↗

The change is the current value minus the comparison value; it is not automatically classified as year-over-year or quarter-over-quarter. Select a value to inspect reporting dates, filing versions and reconstruction inputs.

Historical trends and full financials
Comparable-period financial trends
Last value in range
USD million-1k01k2k3k2024.032024.072025.012025.072026.012026.062.6k-49-626

Time rangeRevenue

2024-03-31 — 2026-06-30
Methodology and controls

Series with the same unit and frequency share a value axis. Each column compares observations with matching period boundaries and units. Records that fail those checks remain blank. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

Scroll to see all periods; select a value to open its source →

Quarterly financials, USD. Records without verified periods or units are excluded from comparison columns.
Reporting period end · USD2024-03-312024-06-302024-09-302024-12-312025-03-312025-06-302025-09-302025-12-312026-03-312026-06-30
Revenue
188.68 M

Raw value 188,684,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

395.37 M

Raw value 395,371,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

583.94 M

Raw value 583,941,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

747.00 MDerived by subtraction

Raw value 747,004,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 1.92 B USD · Source version 2026-03-02
  • Subtract: 2024-01-01 — 2024-09-30 · 1.17 B USD · Source version 2025-11-13
982.00 M

Raw value 982,000,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

1.21 B

Raw value 1,212,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

1.36 B

Raw value 1,364,676,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

1.57 BDerived by subtraction

Raw value 1,571,904,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 5.13 B USD · Source version 2026-03-02
  • Subtract: 2025-01-01 — 2025-09-30 · 3.56 B USD · Source version 2025-11-13
2.08 B

Raw value 2,078,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

2.58 B

Raw value 2,575,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

Gross profit——————————
Operating income
16.85 M

Raw value 16,847,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

77.72 M

Raw value 77,721,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

117.12 M

Raw value 117,116,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

112.32 MDerived by subtraction

Raw value 112,316,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 324.00 M USD · Source version 2026-03-02
  • Subtract: 2024-01-01 — 2024-09-30 · 211.68 M USD · Source version 2025-11-13
-27.00 M

Raw value -27,000,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

19.00 M

Raw value 19,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

51.85 M

Raw value 51,850,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

-89.59 MDerived by subtraction

Raw value -89,589,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · -46.00 M USD · Source version 2026-03-02
  • Subtract: 2025-01-01 — 2025-09-30 · 43.59 M USD · Source version 2025-11-13
-144.00 M

Raw value -144,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

-49.00 M

Raw value -49,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

Net income
-129.25 M

Raw value -129,248,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

-323.02 M

Raw value -323,021,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

-359.81 M

Raw value -359,807,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

-50.92 MDerived by subtraction

Raw value -50,924,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · -863.00 M USD · Source version 2026-03-02
  • Subtract: 2024-01-01 — 2024-09-30 · -812.08 M USD · Source version 2025-11-13
-315.00 M

Raw value -315,000,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

-290.00 M

Raw value -290,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

-110.12 M

Raw value -110,124,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

-451.73 MDerived by subtraction

Raw value -451,726,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · -1.17 B USD · Source version 2026-03-02
  • Subtract: 2025-01-01 — 2025-09-30 · -715.27 M USD · Source version 2025-11-13
-740.00 M

Raw value -740,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

-626.00 M

Raw value -626,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

Operating cash flow
2.04 B

Raw value 2,039,038,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

-117.82 MDerived by subtraction

Raw value -117,824,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-06-30 · 1.92 B USD · Source version 2025-08-13
  • Subtract: 2024-01-01 — 2024-03-31 · 2.04 B USD · Source version 2025-05-15
641.22 MDerived by subtraction

Raw value 641,222,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-09-30 · 2.56 B USD · Source version 2025-11-13
  • Subtract: 2024-01-01 — 2024-06-30 · 1.92 B USD · Source version 2025-08-13
186.56 MDerived by subtraction

Raw value 186,564,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 2.75 B USD · Source version 2026-03-02
  • Subtract: 2024-01-01 — 2024-09-30 · 2.56 B USD · Source version 2025-11-13
61.00 M

Raw value 61,000,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

-251.00 MDerived by subtraction

Raw value -251,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-06-30 · -190.00 M USD · Source version 2026-08-12
  • Subtract: 2025-01-01 — 2025-03-31 · 61.00 M USD · Source version 2026-05-08
1.69 BDerived by subtraction

Raw value 1,689,051,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-09-30 · 1.50 B USD · Source version 2025-11-13
  • Subtract: 2025-01-01 — 2025-06-30 · -190.00 M USD · Source version 2026-08-12
1.56 BDerived by subtraction

Raw value 1,558,949,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 3.06 B USD · Source version 2026-03-02
  • Subtract: 2025-01-01 — 2025-09-30 · 1.50 B USD · Source version 2025-11-13
2.98 B

Raw value 2,984,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

679.00 MDerived by subtraction

Raw value 679,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 3.66 B USD · Source version 2026-08-12
  • Subtract: 2026-01-01 — 2026-03-31 · 2.98 B USD · Source version 2026-05-08
Capital expenditure
1.74 B

Raw value 1,741,935,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

2.25 BDerived by subtraction

Raw value 2,247,161,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-06-30 · 3.99 B USD · Source version 2025-08-13
  • Subtract: 2024-01-01 — 2024-03-31 · 1.74 B USD · Source version 2025-05-15
1.22 BDerived by subtraction

Raw value 1,215,155,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-09-30 · 5.20 B USD · Source version 2025-11-13
  • Subtract: 2024-01-01 — 2024-06-30 · 3.99 B USD · Source version 2025-08-13
3.50 BDerived by subtraction

Raw value 3,497,749,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 8.70 B USD · Source version 2026-03-02
  • Subtract: 2024-01-01 — 2024-09-30 · 5.20 B USD · Source version 2025-11-13
1.41 B

Raw value 1,407,000,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

2.45 BDerived by subtraction

Raw value 2,453,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-06-30 · 3.86 B USD · Source version 2026-08-12
  • Subtract: 2025-01-01 — 2025-03-31 · 1.41 B USD · Source version 2026-05-08
2.39 BDerived by subtraction

Raw value 2,389,239,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-09-30 · 6.25 B USD · Source version 2025-11-13
  • Subtract: 2025-01-01 — 2025-06-30 · 3.86 B USD · Source version 2026-08-12
4.06 BDerived by subtraction

Raw value 4,059,761,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 10.31 B USD · Source version 2026-03-02
  • Subtract: 2025-01-01 — 2025-09-30 · 6.25 B USD · Source version 2025-11-13
7.70 B

Raw value 7,695,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

6.42 BDerived by subtraction

Raw value 6,422,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 14.12 B USD · Source version 2026-08-12
  • Subtract: 2026-01-01 — 2026-03-31 · 7.70 B USD · Source version 2026-05-08
Comparison rules and gaps

Comparison columns require aligned period boundaries, currency and duration. Blank values are not zero; directly reported quarters and cumulative reconstructions are distinguished. A non-positive comparison base is shown as an amount change without a percentage growth rate.

View filing source

Events and disclosure records

Completed events, conditional arrangements and the document versions used are listed separately.

Check original source ↗
Conditional arrangements

AdaniConneX · Offtake and leasing

Taloja collaboration for 240MW, initial phase targeted for mid-2028, with another 240MW opportunity. Definitive lease not verified; optional expansion excluded from base capacity. [15]

Conditional arrangements

Blockfusion USA, Inc. (via wholly owned subsidiary North East Data, LLC; to become Blockfusion Digital Infrastructure, Inc. through SPAC merger with Blue Acquisition Corp., Nasdaq: BACC) · Capital and financing

Series A common stock purchase warrant issued by Blockfusion to CoreWeave on 2026-09-04 in connection with the Niagara Falls lease: 2,786,624 shares at an initial exercise price of $7.6898; to be cancelled at the SPAC merger effective time and replaced by a Pubco warrant for 2,870,813 Class A shares at $7.4643; first disclosed in the Sixth Amendment to the Business Combination Agreement [14]

Disclosed events

Blockfusion USA, Inc. (via wholly owned subsidiary North East Data, LLC; to become Blockfusion Digital Infrastructure, Inc. through SPAC merger with Blue Acquisition Corp., Nasdaq: BACC) · Offtake and leasing

Definitive 15-year anchor colocation lease (two 5-year renewal options) for capacity at Blockfusion's Niagara Falls, NY campus, a converted power plant running predominantly on hydro; lessor is Blockfusion subsidiary North East Data, LLC; lease dated 2026-09-04; companion Expansion Agreement, under which CoreWeave's obligation to lease expansion capacity is conditional on firm power commitments and its approval of the power infrastructure plan; converts the non-binding LOI announced 2026-06-30 (tenant then unnamed; up to 300 MW critical IT anchored by 85 MW take-or-pay); MW and contract value of the definitive lease not disclosed [13]

Disclosed events

Cognition AI, Inc. · Customer

Named in CoreWeave's Q2 2026 earnings release (8-K exhibit) among existing enterprise and AI-native customers whose relationships were expanded in the quarter; no contract value disclosed [10]

View remaining recorded events (6)
Disclosed events

Databricks, Inc. · Customer

Named in CoreWeave's Q2 2026 earnings release (8-K exhibit) among existing enterprise and AI-native customers whose relationships were expanded in the quarter; no contract value disclosed [11]

Disclosed events

Hudson River Trading LLC · Customer

Named in CoreWeave's Q2 2026 earnings release (8-K exhibit) among existing customers whose relationships were expanded in the quarter; quantitative trading counterparty; no contract value disclosed [12]

Disclosed events

Galaxy Digital Inc. · Offtake and leasing

CoreWeave leases Helios Phases I–III: 800 MW of gross campus power and 526 MW of critical IT capacity. The base term is 15 years, with two additional five-year extension options. Phase I, comprising 133 MW of critical IT capacity, was fully delivered in Q2 2026. The company forecasts average annual revenue above USD 1.2 billion over the lease term for all 526 MW. This is neither recognized revenue nor total contract value. [6]

Disclosed events

Core Scientific, Inc. · Offtake and leasing

AI colocation lease · 590MW critical IT (800MW gross) · 12 years + two 5-year extensions · take-or-pay fixed price with annual escalators · contract revenue flows into $3.3B notes lockbox [5]

Conditional arrangements

NVIDIA · Equipment and engineering

Collaboration framework entered 2026-01-23 to accelerate CoreWeave's buildout of more than 5 GW of AI factories by 2030, developed and operated by CoreWeave using NVIDIA's computing platform technology; expressly subject to future execution of additional agreements and/or order forms [9]

Disclosed events

Bloom Energy Corporation · Offtake and leasing

On-site fuel cell power for an AI data center · Chirisa Technology Parks facility in Volo, Illinois · expected commissioning in Q3 2025 · capacity and value not disclosed [8]

Included financial source versions
  1. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-06-30. The same document includes multiple comparison periods.

  2. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-03-31. The same document includes multiple comparison periods.

  3. 10-K Original financial filings ↗

    This page cites periods ending through 2025-12-31. The same document includes multiple comparison periods.

  4. 10-Q Original financial filings ↗

    This page cites periods ending through 2025-09-30. The same document includes multiple comparison periods.

  5. 10-Q Original financial filings ↗

    This page cites periods ending through 2024-06-30.

  6. 10-Q Original financial filings ↗

    This page cites periods ending through 2024-03-31.

Industry relationships and operating mechanisms

Trace supply and demand through contract performance, operating metrics and cash attribution.

Direct relationships: 14 · Excluded by current filters: 14

Upstream supply

6 companies
↗
2026-07-281 record
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2026-08-051 record
↗
2024-07-161 record
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2026-01-231 record
2026-09-161 record

Downstream demand

5 companies
↗
Date not specified1 record
↗
Date not specified1 record
2026-08-111 record
2026-08-111 record
2026-08-111 record

Capital sources

1 companies
Date not specified1 record

Capital deployed

2 companies
↗
2026Q21 record
2026-09-221 record

Goods and services are arranged from supplier to customer; capital is shown separately. Select a relationship to inspect its evidence and operating mechanism. Second-degree paths do not establish guarantees or certain revenue.

Upstream supply · Lease contract

BlockfusionCRWV

Signed / existingA · Original filing

What this relationship establishes

Anchor lease for AI colocation

Relationship type
Lease contract

Recorded as signed or existing; performance progress requires separate verification

Amount basis
Amount associated with the contract relationship

No attributable amount is available for this record. This does not mean the amount is zero.

Contract duration, revenue recognition and cash collection do not follow the same schedule. Dividing the total by the contract term is not a substitute for actual period results.

Attribution
Applies to this relationship; the original document determines the specific legal entities and attribution.
  • The lessor is North East Data, LLC, a wholly owned subsidiary of Blockfusion

The counterparty is unnamed; no specific company is inferred.

Concentration
A relationship amount and company denominator with matching periods and definitions are not provided

Relationship counts, capacity and total contract value are not measures of revenue or procurement concentration.

Complete record and source location

Definitive 15-year anchor colocation lease (two 5-year renewal options) for capacity at Blockfusion's Niagara Falls, NY campus, a converted power plant running predominantly on hydro; lessor is Blockfusion subsidiary North East Data, LLC; lease dated 2026-09-04; companion Expansion Agreement, under which CoreWeave's obligation to lease expansion capacity is conditional on firm power commitments and its approval of the power infrastructure plan; converts the non-binding LOI announced 2026-06-30 (tenant then unnamed; up to 300 MW critical IT anchored by 85 MW take-or-pay); MW and contract value of the definitive lease not disclosed

A · Original filing

Blockfusion Rule 425 press release filed 2026-09-16 (acc 0001185185-26-004075; also BACC 425 acc 0001185185-26-004076); BACC 8-K 2026-09-22 (Sixth BCA Amendment) defines the CoreWeave Lease dated 2026-09-04; LOI terms in BACC 8-K Ex. 99.1 of 2026-06-30

Procurement constraints and delivery

The excerpts below come from this record. Verify signed status separately from actual completion.

  • A separate expansion agreement was signed; lease obligations for the expansion arise only after firm power commitments are obtained and CoreWeave approves the power plan
  • Converted from the non-binding letter of intent announced on 2026-06-30, when the tenant was unnamed and the proposal covered up to 300MW of critical IT capacity, including 85MW on a take-or-pay basis
Limitations in the original record
  • Converted from the non-binding letter of intent announced on 2026-06-30, when the tenant was unnamed and the proposal covered up to 300MW of critical IT capacity, including 85MW on a take-or-pay basis
  • The definitive lease does not disclose MW capacity or contract value
Inputs still needed to quantify the impact
  • A period-by-period schedule of contractual cash receipts, cash payments and revenue recognition
  • Performance, termination and substitute-capacity provisions
  • Attribution to equity after construction, maintenance, taxes, fees and financing

The amount associated with a relationship cannot substitute for the company's revenue, earnings or stock-price impact. Applies to this relationship; the original document determines the specific legal entities and attribution.

How to test the operating mechanism

Analytical framework, not a realized impact

  1. Contract terms

    CRWV purchases products or services from Blockfusion under an offtake arrangement; first distinguish leases, cloud services and other offtake arrangements.

  2. Contract execution

    Track delivery, lease commencement or service activation, cancellation conditions and renewal options for each tranche.

  3. Financial outcomes

    Present the nominal contract amount, revenue recognized during the period, cash receipts and spending to fulfill the contract separately.

  4. Testing price implications

    Verify the effective contract term, capital investment and financing attribution before estimating cash attributable to shareholders.

Cross-check relationship events against subsequent disclosures of company revenue, costs, working capital and cash flows; movements in the same direction alone do not establish causation.

Other records for the same counterparty

Review procurement, customer and capital relationships separately. The same cooperation may appear in multiple records; the amounts are not automatically additive.

Relationship typeStatus / dateEvidence source
OptionA · Original filing

Operating data to test the relationship

CRWV · Company-specific metric definitions and classifications

Metrics test operating processes; an overall change cannot be attributed to a single relationship. Expand the definitions to check calculation methods and their applicable boundaries.

Profit and costs

Can revenue growth translate into earnings attributable to shareholders?

Preserve the distinctions relating to depreciation, stock-based compensation, adjustments and segments. The company's margin cannot be applied as this contract's margin.
Operating metricLatest valueDefinition and boundaries
Operating margin ↗2026-06-30 · Research calculation-1.9%
Definition and boundaries

Operating income / revenue × 100

Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Net margin ↗2026-06-30 · Research calculation-24.31%
Definition and boundaries

Selected net-income concept / revenue × 100

May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Operating cash flow / revenue ↗2026-06-30 · Research calculation26.37%
Definition and boundaries

Operating cash flow / revenue × 100

Shows operating cash inflows and outflows, including working capital and taxes. It is neither a contract collection rate nor cash available for shareholder distribution. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

(CFO − cash purchases of PP&E) / revenue ↗2026-06-30 · Research calculation-223.03%
Definition and boundaries

(Operating cash flow − cash purchases of PP&E) / revenue × 100

A free-cash-flow proxy deducting only identified PP&E purchases. It does not deduct acquisitions, capital prepayments, intangible assets or lease principal, and does not establish cash distributable to common shareholders. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Investment and funding needs

How much cash is required for construction and procurement before delivery?

Compare prepayments, cash capital expenditure and commissioning plans. Current-period revenue is not a substitute for a full investment-recovery calculation.
Operating metricLatest valueDefinition and boundaries
Cash purchases of PP&E / revenue ↗2026-06-30 · Research calculation249.4%
Definition and boundaries

Cash purchases of PP&E / revenue × 100

Identified cash purchases of PP&E, excluding non-cash additions. Maintenance and expansion investment are not separated. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Show remaining company metrics (2)
Other operating observations

What verifiable information does this metric provide about this relationship?

Use the metric's definition and original inputs. Quantitative attribution to this relationship has not been established.
Operating metricLatest valueDefinition and boundaries
Revenue growth YoY ↗2026-06-30 · Research calculation112.46%
Definition and boundaries

(Current-period revenue / comparable prior-year revenue − 1) × 100

Requires the same concept and currency for equal-length periods one year apart, with positive prior-year revenue. A 53-week versus 52-week year may still differ by one week; no daily adjustment is made. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

(Net income − operating cash flow) / revenue ↗2026-06-30 · Research calculation-50.68%
Definition and boundaries

(Net income − operating cash flow) / revenue × 100

The amount difference divided by revenue. This is not the Sloan accrual ratio or an earnings-manipulation score. A positive value only indicates that earnings exceed operating cash flow for the same period. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Related companies in the value chain 10 companies · Cloud and compute rental

Related browsing is based on overlapping segments in the current graph. It does not establish direct peers, valuation comparability, or a supply, customer or investment relationship.

Search all operating metrics and calculation methods

Operating metric search

Test relationship hypotheses against actual operating series, with their definitions, periods and calculation methods.

Historical research methodology
7 / 7 items
Operating metricLatest valuePeriod / classificationDefinition and interpretation boundariesAnalysis
Revenue growth YoY112.46%2026-06-30Research calculation(Current-period revenue / comparable prior-year revenue − 1) × 100Requires the same concept and currency for equal-length periods one year apart, with positive prior-year revenue. A 53-week versus 52-week year may still differ by one week; no daily adjustment is made. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Operating margin-1.9%2026-06-30Research calculationOperating income / revenue × 100Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Net margin-24.31%2026-06-30Research calculationSelected net-income concept / revenue × 100May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Operating cash flow / revenue26.37%2026-06-30Research calculationOperating cash flow / revenue × 100Shows operating cash inflows and outflows, including working capital and taxes. It is neither a contract collection rate nor cash available for shareholder distribution. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
(CFO − cash purchases of PP&E) / revenue-223.03%2026-06-30Research calculation(Operating cash flow − cash purchases of PP&E) / revenue × 100A free-cash-flow proxy deducting only identified PP&E purchases. It does not deduct acquisitions, capital prepayments, intangible assets or lease principal, and does not establish cash distributable to common shareholders. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Cash purchases of PP&E / revenue249.4%2026-06-30Research calculationCash purchases of PP&E / revenue × 100Identified cash purchases of PP&E, excluding non-cash additions. Maintenance and expansion investment are not separated. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
(Net income − operating cash flow) / revenue-50.68%2026-06-30Research calculation(Net income − operating cash flow) / revenue × 100The amount difference divided by revenue. This is not the Sloan accrual ratio or an earnings-manipulation score. A positive value only indicates that earnings exceed operating cash flow for the same period. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Source grades, dates and quantitative definitions

A = original SEC or exchange filings; B = company announcements, IR materials, official websites or established media; C = industry-structure inferences or third-party accounts without an independent primary source

Key relationships were reviewed using public information available through 2026-10-23. Historical relationships have not all been individually reverified. Their original dates are retained; delisted entities remain in the relationship archive but are excluded from market-cap weights. Review coverage through 2026-10-23.

Signed status does not mean that the full amount has been paid or that capacity has been delivered. Assess contract value, period revenue, investment, loans, prepayments and guarantee caps separately; do not sum them as a single exposure. Distinguish total power capacity from critical IT load. Company-level metrics cannot be attributed directly to an individual relationship.

Source facts and operating implications are distinguished, with forecasts and conditional scenarios identified as such. Missing relationships mean that this graph has no record of them. Data version 60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644.

EVIDENCE & SOURCES

Data and calculation basis

Sources and filing versions
Quotes and valuation

2026-10-27, 16:00 ET · Regular-session close. History through 2026-10-23 uses provider split-adjusted prices, excluding dividends. Full-history adjustment factors have not been independently recalculated. MA20 is the arithmetic mean of 20 recorded trading-day closes and does not bridge missing prices or known corporate actions. Price comparisons exclude dividend reinvestment and do not represent total returns. Market cap retrieved on 2026-10-28. Prices refresh daily. Source timestamps and website update times are shown separately.

The current security identity has been checked. Continuity with earlier issuers has not been independently verified; listing-date coverage is shown separately.

Original verification notes

verified-listing-start-covered

The company annual report confirms that Class A common stock began trading on Nasdaq on 2025-03-28.

Financial statements

Reporting period 2026-06-30; filed 2026-08-12. Financials use the company's reporting periods and currency; unavailable values appear as —. Expand the section below each chart to inspect metric definitions, inputs and original sources.

Business evidence

Primary company business sources · Through 2026-08-12

Citations: 15 · Documents: 13 · Duplicate documents are grouped; individual source locations are retained

1CoreWeave 2026Q2 10-QPrimary sources

Note 2 Revenue / Debt / Risk Factors · Document date 2026-08-12

The source document has been reviewed. Its date identifies the version used, not necessarily the first publication.

Open source
2CRWV 8-K 0001769628-26-000357 (event date 2026-08-07, filed 2026-08-10)Value-chain archive

CRWV 8-K 0001769628-26-000357 (event date 2026-08-07, filed 2026-08-10) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
3CRWV 8-K 0001769628-25-000047 (event date 2025-09-09, filed 2025-09-15)Value-chain archive

CRWV 8-K 0001769628-25-000047 (event date 2025-09-09, filed 2025-09-15) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
4CRWV FY2025 10-K 0001769628-26-000104 (2025-12-31); CRWV 10-Q 0001769628-26-000366 (2026-06-30)Value-chain archive

CRWV FY2025 10-K 0001769628-26-000104 (2025-12-31); CRWV 10-Q 0001769628-26-000366 (2026-06-30) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
5CORZ 8-K 2026-07-28 2026Q2 investor presentation (acc 0001839341-26-000013)Value-chain archive

CORZ 8-K 2026-07-28 2026Q2 investor presentation (acc 0001839341-26-000013) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
6GLXY 8-K 2026-08-05(glxy-20260630xpressrelease.htm)Value-chain archive

GLXY 8-K 2026-08-05(glxy-20260630xpressrelease.htm) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
7GLXY Q2 2026 Form 10-Q, lease noteValue-chain archive

GLXY Q2 2026 Form 10-Q, lease note · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
8Bloom Energy press release 2024-07-16 [B]Value-chain archive

Bloom Energy press release 2024-07-16 [B] · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
9CoreWeave 8-K(2026-01-23)Value-chain archive

CoreWeave 8-K(2026-01-23) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
10CoreWeave Q2 2026 earnings press release, exhibit to Form 8-K dated August 11, 2026Value-chain archive · 3 citations
References 10

CoreWeave Q2 2026 earnings press release, exhibit to Form 8-K dated August 11, 2026 · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

References 11

CoreWeave Q2 2026 earnings press release, exhibit to Form 8-K dated August 11, 2026 · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

References 12

CoreWeave Q2 2026 earnings press release, exhibit to Form 8-K dated August 11, 2026 · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
13Blockfusion Rule 425 press release filed 2026-09-16 (acc 0001185185-26-004075; also BACC 425 acc 0001185185-26-004076); BACC 8-K 2026-09-22 (Sixth BCA Amendment) defines the CoreWeave Lease dated 2026-09-04; LOI terms in BACC 8-K Ex. 99.1 of 2026-06-30Value-chain archive

Blockfusion Rule 425 press release filed 2026-09-16 (acc 0001185185-26-004075; also BACC 425 acc 0001185185-26-004076); BACC 8-K 2026-09-22 (Sixth BCA Amendment) defines the CoreWeave Lease dated 2026-09-04; LOI terms in BACC 8-K Ex. 99.1 of 2026-06-30 · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
14BACC 8-K filed 2026-09-22 (acc 0001185185-26-004183), Item 1.01 and Ex. 2.1 Sixth Amendment to the Business Combination Agreement dated 2026-09-21Value-chain archive

BACC 8-K filed 2026-09-22 (acc 0001185185-26-004183), Item 1.01 and Ex. 2.1 Sixth Amendment to the Business Combination Agreement dated 2026-09-21 · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
15Issuer / authority original 2026-10-06 [B]Value-chain archive

Issuer / authority original 2026-10-06 [B] · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
Missing evidence
  • Company-specific operating KPIs are not yet available; financial ratios do not substitute for evidence about products, orders or capacity.
Relationships
Company announcements, framework intentions and signed agreements are distinguished. Contract amounts do not represent payments already made. Records without sources are flagged separately.
Version
60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644

ResearchSource document

Sources: 6
01CRWV · 10-Q · Filing version 2025-05-15

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
02CRWV · 10-Q · Filing version 2025-11-13

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
03CRWV · 10-Q · Filing version 2025-08-13

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
04CRWV · 10-K · Filing version 2026-03-02

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
05CRWV · 10-Q · Filing version 2026-05-08

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
06CRWV · 10-Q · Filing version 2026-08-12

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure