CoreWeave (CRWV) Secures Approximately 2GW of Power for High-Performance Computing (HPC) Workloads

This article does not constitute investment advice. The author does not hold positions in any of the stocks referenced herein.

CoreWeave: A Leader in GPU-as-a-Service

CoreWeave (CRWV), a prominent player in the GPU-as-a-Service market, has made headlines with its impressive power contract acquisitions since its initial public offering (IPO) in March. As reported by Barclays, the company has secured contracts totaling approximately 700 megawatts (MW) of power since its S-1 filing.

Optimized Infrastructure for AI Workloads

CoreWeave specializes in renting NVIDIA’s graphics processing units (GPUs) through a cloud-based model, fully equipped to manage demanding artificial intelligence (AI) workloads. This capability is bolstered by a strategic partnership with NVIDIA, positioning CoreWeave to deliver access to NVIDIA’s latest-generation GPUs at an unparalleled scale.

Recent Developments and Strategic Agreements

In a noteworthy update, Barclays analyst Raimo Lenschow recently highlighted CoreWeave’s strategic 15-year agreement with Applied Digital, which involves 250 MW of contracted power and data center resources. This arrangement is projected to generate around $7 billion in revenue for Applied Digital.

Lenschow’s analysis reveals that since the March S-1 filing, CoreWeave has secured over 700 MW of power commitments for high-performance computing (HPC) workloads. These commitments include approximately 470 MW from partnerships with Galaxy Digital and Core Scientific, along with the newly announced 250 MW from Applied Digital.

A Strong Outlook for Growth

Lenschow suggests that CoreWeave is on track to achieve an impressive total of nearly 2 gigawatts (GW) of contracted power capacity, solidifying the case for sustained demand in the AI sector.

Impressive Financial Performance

In its first quarter of 2025, CoreWeave reported revenues of $981.632 million, exceeding consensus expectations by 14 percent. The company boasts a substantial order backlog estimated at $25.9 billion, including an $11.2 billion allocation from industry leader OpenAI.

For the second quarter, CoreWeave forecasts capital expenditures (CapEx) between $3 billion and $3.5 billion, anticipating revenues in the range of $1.06 billion to $1.1 billion.

Stock Performance Highlights

As of the latest updates, CoreWeave’s stock has experienced an increase of over 5 percent, marking a staggering 192 percent rise thus far this year. This outperformance positions it ahead of major stocks in the group commonly referred to as the “MAG 7.”

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