Overview
- CoreWeave expanded its AI cloud footprint with a $21 billion capacity deal with Meta through 2032, a new multi‑year pact with Anthropic, and a $6 billion agreement with Jane Street.
- The company now guides to $12–$13 billion in 2026 revenue, supported by pre‑allocated capacity and a contracted backlog reported at about $67 billion.
- The balance sheet now carries roughly $30 billion of debt after fresh $8.5 billion raises, funding large buildouts that are expected to push out free cash flow.
- Management plans to double active graphics processing unit capacity and says all contracted power will be online by the fourth quarter of 2027, a target that hinges on chip supply, sites, and electricity.
- Investors have rewarded the larger pipeline, with shares up about 50% since earlier coverage and Cantor Fitzgerald raising its price target to $156.