CoreWeave, a new player in AI, saw revenue jump of 737% in 2024

From Nasdaq: 2025-04-02 11:48:00

Nvidia (NASDAQ: NVDA) has seen remarkable growth in the AI market, with five straight quarters of triple-digit revenue growth, hitting 265% in the third quarter of fiscal 2024. CoreWeave (NASDAQ: CRWV), a new player in AI, experienced a revenue jump of 737% in 2024, reaching $1.9 billion.

CoreWeave, a cloud infrastructure platform for AI, recently went public and is poised to capitalize on the growing demand for AI services. Founded in 2017, the company has seen exponential revenue growth, attracting investments from Nvidia and OpenAI.

Despite impressive growth, CoreWeave faces risks like customer concentration, with Microsoft accounting for 62% of its revenue in 2024. While Microsoft’s demand is slowing, CoreWeave is diversifying its customer base and expects strong revenue growth.

Investors have shown caution towards CoreWeave, with its recent IPO undersubscribed and trading below its target range. However, the company’s fundamentals and valuation look solid, presenting a long-term opportunity in the AI market.

For patient, long-term investors, CoreWeave offers considerable potential despite short-term volatility. The company’s focus on AI infrastructure makes it a promising player in the growing AI market, with opportunities for significant returns over time.



Read more at Nasdaq: CoreWeave IPO: Is this Fast-Growing AI Stock a Buy Right Now?