Clinical Trials

January 29, 2026, 5:00 AM EST. CoreWeave is building an AI-focused cloud platform that aims to lead the next wave of data-center technology, despite being a small player with a roughly $53 billion market capitalization and ongoing losses. The company's backlog has surged to more than $55 billion, while revenue in the first nine months of 2025 jumped about 204% year over year to nearly $3.6 billion. But expenses rose faster, up about 267%, as CoreWeave expanded its infra. It has funded growth with more than $6.2 billion in capex and about $14 billion in debt, much carrying high interest. The financing included a $2.2 billion convertible notes offering at 1.75%, convertible to stock at $215.60 through 2031. Partnerships with Nvidia and customers like OpenAI and Microsoft back the push.