CoreWeave tops $5 billion in revenue for 2025

CoreWeave topped $5 billion in annual revenue as the company said, "demand continues to intensify."

The company's fourth quarter highlighted how CoreWeave is racking up revenue and net losses as it scales out.

CoreWeave reported a fourth quarter net loss of $452 million, or 89 cents a share, on revenue of $1.57 billion, up from $747 million a year ago. For 2025, CoreWeave reported a net loss of $1.17 billion, or $2.81 a share, on revenue of $5.13 billion.

According to CoreWeave, the company had a revenue backlog of $66.8 billion as of Dec. 31. Current debt was $6.71 billion and non-current debt was $14.66 billion as of Dec. 31.

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Michael Intrator, CEO of CoreWeave, said the AI cloud provider is seeing a "broader set of customers adopt CoreWeave Cloud."

Aside from building out AI data centers, CoreWeave has been expanding via acquisitions. It purchased Monolith and Marimo in the quarter.

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CoreWeave has also been building out its offerings and launched AI Object Storage for AI workloads, expanded CoreWeave Mission Control with new features and debuted Serviceless RL, a managed reinforcement learning service. The company also stood up CoreWeave Federal and partnered with CrowdStrike.