CRWV

1. Key Historical Highlights

• July 9, 2025: CoreWeave becomes the first AI cloud provider to offer NVIDIA RTX PRO 6000 Blackwell GPU at scale, enhancing AI and graphics workloads.
• July 7, 2025: CoreWeave signs an agreement to acquire Core Scientific, aiming to verticalize its data center footprint and improve revenue growth.
• July 3, 2025: CoreWeave becomes the first AI cloud provider to deploy NVIDIA GB300 NVL72 systems, enhancing AI model training capabilities.
• June 18, 2025: CoreWeave and Weights & Biases launch new AI cloud software products to accelerate AI development.
• May 22, 2025: CoreWeave partners with Aston Martin Aramco as their Official AI Cloud Computing Partner, enhancing car design and engineering performance.
• May 5, 2025: CoreWeave completes the acquisition of Weights & Biases, boosting its AI innovation capabilities.
• April 15, 2025: CoreWeave launches NVIDIA GB200 Grace Blackwell systems at scale, furthering AI model development.
• April 2, 2025: CoreWeave achieves record-breaking AI inferencing benchmarks with NVIDIA GB200 Grace Blackwell Superchips.
• March 27, 2025: CoreWeave announces the pricing of its IPO, listing on the Nasdaq under the ticker "CRWV."
• March 10, 2025: CoreWeave announces a strategic deal with OpenAI worth up to $11.9 billion, expanding its AI infrastructure services.
• January 13, 2025: CoreWeave's first UK data centers become operational, part of a £1bn investment into the country.
• January 9, 2025: CoreWeave appoints Karen Boone as an independent board director and Sandy Venugopal as CIO to strengthen leadership.
• August 8, 2024: CoreWeave announces key senior hires, including Chen Goldberg from Google and Sachin Jain from Oracle, to fuel growth.
• August 1, 2024: Jeff Baker is appointed as Chief Accounting Officer, with plans for European expansion.
• October 18, 2024: Michelle O'Rourke is appointed as Chief People Officer, focusing on talent acquisition and company culture.

2. Financial Performance Overview

Revenue Growth

• CoreWeave has demonstrated significant growth through strategic acquisitions and partnerships, such as the acquisition of Weights & Biases and the partnership with OpenAI.
• The company raised $12 billion from investors between May 2023 and May 2024, supporting its aggressive expansion plans.

Profit Margins

• The acquisition of Core Scientific is expected to eliminate over $10 billion in cumulative future lease overhead, enhancing profitability.
• CoreWeave anticipates $500 million in estimated annual run rate cost savings by the end of 2027.

Expense Management

• The strategic acquisition of Core Scientific and the partnership with OpenAI highlight CoreWeave's focus on cost-efficient growth and market positioning.
• The company continues to optimize its AI infrastructure for performance and cost-effectiveness.

Significant Financial Events

• CoreWeave's IPO pricing at $40.00 per share, with shares trading on the Nasdaq under "CRWV," marks a significant milestone in its financial journey.
• The $11.9 billion contract with OpenAI significantly boosts CoreWeave's market valuation and financial outlook.

3. Management Effectiveness

Strategic Decision-Making

• CoreWeave's leadership has demonstrated foresight in acquiring key assets such as Weights & Biases and Core Scientific, positioning the company as a leader in AI cloud solutions.
• The strategic partnership with OpenAI further solidifies CoreWeave's position in the AI infrastructure sector.

Capital Allocation

• The company has effectively allocated capital towards expanding its data center footprint and enhancing AI infrastructure capabilities.
• Investments in leadership talent, such as appointing experienced executives from Google and Oracle, support CoreWeave's growth trajectory.

4. Key Quotes from Management

• "CoreWeave is built to move at the speed of innovation, and with the new RTX PRO 6000-based instances, we’re once again first to bring advanced AI and graphics technology to the cloud." - Peter Salanki, Co-Founder and CTO, CoreWeave
• "This acquisition accelerates our strategy to deploy AI and HPC workloads at scale." - Michael Intrator, CEO, CoreWeave
• "CoreWeave is constantly working to push the boundaries of AI development further, deploying the bleeding-edge cloud capabilities required to train the next generation of AI models." - Peter Salanki, Co-Founder and CTO, CoreWeave
• "Today's announcement accelerates our ability to power AI innovation with the scale, performance, and expertise that meets the demands of accelerated computing." - Michael Intrator, CEO, CoreWeave
• "Partnering with OpenAI on this net new contract underscores CoreWeave's proven ability to deliver reliable and performant infrastructure services, powering AI Innovations for world-leading AI labs." - Michael Intrator, CEO, CoreWeave
• "CoreWeave is helping to power the AI innovations reshaping our lives. At this pivotal moment, Jean will be instrumental in further progressing our market presence and leadership." - Michael Intrator, CEO, CoreWeave
• "CoreWeave is built to move faster – and time and again, we've proven it by being first to operationalize the most advanced systems at scale." - Michael Intrator, CEO, CoreWeave