The AI cloud provider secured new contracts lifting its backlog to $99 billion, including a $21 billion Meta commitment.
CoreWeave’s AI infrastructure backlog reached $99 billion after adding $32 billion in new contracts, including a $21 billion deal with Meta. The company has now locked in 75% of its projected $30 billion 2027 run rate, signaling strong demand for GPU compute rentals.
Shares of CRWV trade at 8.81x sales following a 19% weekly gain, with $105 near the 200-day moving average seen as a key support level. Quarterly interest expense doubled to $536 million, while free cash flow burned $4.71 billion, with full-year capital expenditures guided as high as $35 billion.
The stock, which IPO’d at $40 in March 2025, surged to $187 before retreating to $117.03. Nasdaq-100 inclusion on June 22, 2026, has driven recent buying, though analysts caution against chasing at current levels.