CoreWeave Posts $5.13B Revenue and $66.8B Backlog with 60% EBITDA Margin
CoreWeave generated $5.13 billion in revenue for 2025, up from $1.92 billion in 2024, while building a $66.8 billion backlog. The company achieved $3.1 billion of Adjusted EBITDA at a 60% margin as it added 260 MW of power capacity and secured 3.1 GW of contracted power.
1. Financial Performance
CoreWeave delivered $5.13 billion in revenue during 2025, up from $1.92 billion a year earlier, and amassed a $66.8 billion revenue backlog. GAAP net loss totaled $1.17 billion as rapid scaling and interest expenses weighed, while Adjusted EBITDA reached $3.1 billion, reflecting a 60% margin.
2. Infrastructure Expansion
The company expanded its purpose-built AI infrastructure by adding 260 MW of active power capacity to reach 850 MW total and secured approximately 3.1 GW of contracted power for future growth. These capacity gains support high-performance AI workloads and underpin long-term scalability.
3. Strategic Acquisitions and Partnerships
Strategic acquisitions of Monolith and Marimo enhanced CoreWeave’s industrial and generative AI offerings. The firm also achieved Nvidia Exemplar status for GB200 NVL72 workloads and earned a Platinum ClusterMAX rating, while winning new business from AI leaders such as Midjourney, Runway, and CrowdStrike.