CoreWeave: The AI Unicorn Powered by Nvidia

CoreWeave (CRWV), initially Atlantic Crypto, transformed from a crypto mining operation to a key player in the AI cloud computing space. This transformation has been largely fueled by a close partnership with Nvidia (NVDA), giving CoreWeave access to its latest and greatest GPUs.

From Crypto Mining to AI Powerhouse

Founded in 2017, CoreWeave started as Atlantic Crypto, riding the Ethereum wave before pivoting to AI. Recognizing the growing demand for GPU computing power in the generative AI boom, the company rebranded and focused on building data centers optimized for GPU workloads.

Now, CoreWeave operates numerous data centers across the US and Europe, providing access to Nvidia's top-tier GPUs. This allows businesses to avoid the costly investment of building and maintaining their own hardware infrastructure.

Nvidia's Backing and Market Success

A significant advantage for CoreWeave is its close relationship with Nvidia, which owns approximately 5% of the company. This partnership ensures CoreWeave receives priority access to Nvidia's most advanced GPUs, a key differentiator in the competitive AI cloud market.

CoreWeave's IPO in March 2025 was a major tech event, priced at $40 per share and raising $1.5 billion. Since then, the stock has surged, driven by strong financial performance. In Q1, CoreWeave reported $981.6 million in sales, surpassing estimates. The company also boasts a substantial $25.9 billion revenue backlog, with projected full-year sales between $4.9 billion and $5.1 billion.

Key Takeaways:

• Strategic Partnership: CoreWeave's collaboration with Nvidia provides a significant competitive edge in securing access to cutting-edge GPU technology.
• Market Validation: The company's strong IPO performance and revenue growth demonstrate the market's confidence in CoreWeave's business model and future prospects.
• Hyperscaler Challenge: CoreWeave is positioning itself to compete with established cloud providers by offering specialized GPU-accelerated computing solutions.

Launching the Nvidia GB300 NVL72

CoreWeave is the first to deploy Nvidia's GB300 NVL72, a liquid-cooled, rack-scale system for training advanced AI models. This move underscores CoreWeave's ambition to lead the AI infrastructure race.

The NVL72 system, powered by Nvidia's Blackwell chips, significantly improves responsiveness and speed for training multi-trillion parameter models, which will be crucial for the next generation of chatbots and agentic AI.

This gives CoreWeave early advantages and potential increases in client workloads. It also shows that the Blackwell ecosystem is materializing in tangible real-world tech.

Nvidia's partners, such as Dell and Supermicro, are also profiting from the Blackwell wave, with Supermicro showcasing 30 AI enterprise solutions based on the same technology for the EU market.