CoreWeave, Inc.
CRWVpublicneocloudGPU cloud (neocloud)
GPU cloud provider that leases data centers and finances NVIDIA GPUs with asset-backed debt, delayed-draw term loans and convertible notes against contracted customer capacity. Listed on Nasdaq in March 2025; the reference case for neocloud financing.
how it is counted
cash purchases of property and equipment in the calendar quarter, as the company's own cash-flow statement reports it. The year: the newest calendar year whose fourth quarter at least 90 % of filers have reported; a filer counts only if it reported all four quarters.
- Four quarters, 2025 Q3 – 2026 Q2 →+139.9% on the four before, $8.6B — its line in the Overview's league
how it is counted
per filer: the same four quarters, the four before them and the change; null where the filer did not report all four
- $20.6B
- Newest quarter · 2026 Q2249.4% of revenue · +161.8% on a year before
how it is counted
Of revenue: the quarter's CAPEX as a share of the same quarter's revenue, where the company reports both. On a year before: the change on the same calendar quarter a year before, where the filer reported both.
- $6.42B
- Off the balance sheet →what it owes that its balance sheet does not carry, each fact counted once · verified 2026-09-28
- $35.5B
- Notes priced since 2024 →each tranche in the ledger as the company itself states it
- $10.0B
- Loans and credit facilities →new facilities as signed, from the company's own announcements
- $16.8B
- Debt due in 12 months →the company's own five-year schedule
- $6.2B
- Documents in the corpusthe company's own reports, announcements and earnings calls that the rules read
- 74
CAPEX by quarter
Quarters since 2022 Q4, as reported
| 2026 Q2 | $6.42B | $2.58B | 249.4% | +161.8% |
| 2026 Q1 | $7.70B | $2.08B | 370.3% | +446.9% |
| 2025 Q4 | $4.06B | $1.57B | 258.3% | +16.1% |
| 2025 Q3 | $2.39B | $1.36B | 175.0% | +96.6% |
| 2025 Q2 | $2.45B | $1.21B | 202.4% | +9.2% |
| 2025 Q1 | $1.41B | $982M | 143.3% | -19.2% |
| 2024 Q4 | $3.50B | $747M | 468.3% | — |
| 2024 Q3 | $1.22B | $584M | 208.0% | — |
| 2024 Q2 | $2.25B | $395M | 568.9% | — |
| 2024 Q1 | $1.74B | $189M | 921.7% | — |