Why CoreWeave Still Looks Undervalued
CoreWeave has significantly increased its backlog, surpassing $40 billion and nearing a total of $100 billion in contracted demand. The company has seen a substantial commitment in financial services and AI workloads, with figures approaching $10 billion and $1 billion respectively. Despite the high demand, older Nvidia GPU fleets remain sold out, indicating strong market interest.
- ▪CoreWeave added over $40 billion in backlog, pushing total contracted demand close to $100 billion.
- ▪Financial services backlog approached $10 billion, while physical AI and robotics workloads surpassed $1 billion in commitments.
- ▪Older Nvidia GPU fleets, including A100 and H100, remained sold out.
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