Companies · CRWV
CoreWeave
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Latest analysis
Updated Sep 22, 2026
CoreWeave raises $4.2B in convertible notes at 2.875% due 2033, deploying proceeds toward general corporate purposes after capped call hedge costs of $566M.
CoreWeave closed a $4.2 billion convertible senior notes offering on September 22, 2026 — upsized from an initial $3.0 billion — at a 2.875% coupon and a conversion price of approximately $97.85 per share, representing a 22.5% premium to the September 17 close of $79.88. Net proceeds of $4.137 billion, after purchaser discounts, were partially deployed to fund $566.2 million in capped call transactions designed to reduce dilution up to a cap price of $199.70 per share. The filing is purely a capital markets event; no operational guidance, revenue disclosure, or strategic asset acquisition was announced.
Tone: neutralRevenue
$5.1B
CRWV 10-K · FY 2025
Employees
2,189
Revenue growth YoY
+168%
Founded
2017
Profile
CRWV 10-K Item 1 · Mar 2, 2026CoreWeave is a purpose-built AI cloud provider offering a vertically integrated platform that combines proprietary software, advanced GPU infrastructure, and managed cloud services to support the full lifecycle of AI workloads including training, inference, and agentic applications. The company operates a distributed network of high-density data centers across the United States, Europe, and Canada, interconnected through a proprietary global network backbone. Its customer base includes leading AI labs, enterprises, and technology companies that access the platform primarily through multi-year take-or-pay committed contracts.
Read filing description ↓ Collapse description ↑
CoreWeave is The Essential Cloud for AI, purpose-built to accelerate breakthroughs by AI pioneers, from leading research labs to enterprises fueling business growth. Our CoreWeave Cloud platform enables the full lifecycle of AI, including large-scale model training, inference, data movement, continuous iteration, and agentic workflows. CoreWeave Cloud combines proprietary software and orchestration, advanced infrastructure, and managed cloud services within a highly secure environment to deliver best-in-class high-performance computing, enabling our customers to develop, deploy, and operate advanced AI models and applications at scale. AI workloads demand a fundamentally different approach to infrastructure versus general purpose cloud environments. Both training and inference require high-density compute, advanced networking, optimized storage, and software capable of managing complex distributed systems. General-purpose cloud infrastructure was not designed to meet these requirements. We address them by integrating purpose-built infrastructure with AI-native software and managed services into a single, vertically integrated platform optimized for performance, reliability, and scalability. Software underpins our platform and differentiates our ability to operate AI infrastructure at scale. Our proprietary orchestration, automation, and observability software, CoreWeave Mission Control, enables CoreWeave and our customers to efficiently provision infrastructure, schedule and manage workloads, and monitor performance across training and inference environments. We deliver our cloud services through Infrastructure Services, Managed Software Services, and Application Software Services, including proprietary storage solutions, CoreWeave Mission Control, as well as developer tools, all critical to unlocking continued innovation of AI products. We operate our platform across a distributed network of purpose-built data centers interconnected through a proprietary global network backbone and largely located near major metropolitan areas.
Primary products
- CoreWeave Cloud Platform
- Infrastructure Services
- Managed Software Services
- Application Software Services
- CoreWeave Mission Control
- CoreWeave Kubernetes Service (CKS)
End markets
Geographies
“CoreWeave's competitive advantage is a result of our platform being purpose-built for AI and accelerated compute use cases.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenue increased by $3.2 billion, or 168%, in 2025 versus 2024, driven by increased demand from both existing and new customer contracts and expanded data center capacity.
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