CoreWeave, Inc. Class A Common Stock

“CoreWeave is The Essential Cloud for AITM, purpose-built to accelerate breakthroughs by AI pioneers, from leading research labs to enterprises fueling business growth.”

“We serve a range of customers, including leading enterprises, AI labs, and technology companies deploying AI at scale across a variety of use cases. Customers generally access our platform through multi-year committed contracts, under which they purchase a specified amount of capacity on a take-or-pay basis over the contract term.”

“CoreWeave's purpose-built storage combines exascale, AI-optimized object and file storage with GPU-local caching and Local Tier Acceleration (LOTA™) to deliver high-throughput data access, cross-cloud reach, and predictable economics for training and inference.”

“We deliver our cloud services through Infrastructure Services, Managed Software Services, and Application Software Services, including proprietary storage solutions, CoreWeave Mission Control, as well as developer tools”

“Our proprietary orchestration, automation, and observability software, CoreWeave Mission ControlTM, enables CoreWeave and our customers to efficiently provision infrastructure, schedule and manage workloads, and monitor performance across training and inference environments. We offer Slurm on Kubernetes ("SUNK") to support large-scale AI research and training workloads.”

“Our software solutions, including Weights & Biases®, provide AI researchers and developers with the tools required to train and fine-tune models and to build, deploy, and scale the applications through which AI is delivered to end users.”

“As of December 31, 2025, we operated 43 data centers with over 850 MW of active power. As of December 31, 2025, our total contracted power capacity was approximately 3.1 GW”

“We maintain relationships with semiconductor manufacturers, original equipment manufacturers ("OEMs"), original design manufactures ("ODMs"), and software providers to support the sourcing and deployment of infrastructure components used in our platform.”

“for the year ended December 31, 2025, three suppliers accounted for 23%, 20%, and 17% of total purchases, for the year ended December 31, 2024, three suppliers accounted for 46%, 16”

“For example, as a result of our obligations in our current customer contracts, all of the GPUs used in our infrastructure today are NVIDIA GPUs.”

“our ability to realize and the expected timing for the benefits and impacts of our acquisitions of Weights & Biases, Inc., OpenPipe Inc., Marimo Inc., and Monolith AI Limited”

“We plan to continue to build out our access to power capacity and explore alternative energy solutions to support our growing capacity needs, including, but not limited to non-emitting sources of power.”

“We believe AI is still in the early stages of its commercialization and that demand for model training and inference will continue to scale as organizations embrace new use cases for AI”

“CoreWeave Cloud achieved its second SemiAnalysis' Platinum ClusterMAX™ rating in 2025. CoreWeave remains the industry's sole Platinum provider.”

“We plan to maintain our prioritization of investments in our engineering and product teams to continue to extend our technology leadership in AI infrastructure.”

“in January 2026, we announced that we entered into a collaboration framework with NVIDIA Corporation to expand our long-standing complementary relationship to advance AI adoption at global scale.”

“We expect the cost for power to continue to be volatile and unpredictable and subject to inflationary pressures, which could materially affect our financial forecasting, business, operating results, financial condition, and prospects.”

“We primarily finance our infrastructure development through asset-level debt supported by take-or-pay customer contracts, supplemented by corporate-level equity and debt financing.”

“The significant benefits we deliver to these customers in terms of overall performance, efficiency, and reduced cost of ownership results in them making large initial commitments and expanding those commitments with us over time.”

“As of December 31, 2025, we had $60.7 billion of remaining performance obligations ("RPO"), compared to $15.1 billion of RPO as of December 31, 2024. As of December 31, 2025, our committed contracts had a weighted-average contract duration of approximately five years.”

“We incurred net losses of $1.2 billion, $863 million, and $594 million for the years ended December 31, 2025, 2024, and 2023, respectively, and we may not achieve or, if achieved, sustain profitability in the future. As of December 31, 2025, we had an accumulated deficit of $2.6 billion.”

“Our substantial indebtedness could materially adversely affect our financial condition, our ability to raise additional capital to fund our operations, our ability to operate our business”

“Our operations require substantial and growing capital expenditures, and we will require additional capital to fund our business and support our growth”

“The broader adoption, use, and commercialization of artificial intelligence ("AI") technology, and the continued rapid pace of developments in the AI field, are inherently uncertain.”

“We have a limited number of suppliers for significant components of the equipment we use to build and operate our platform and provide our solutions and services.”

“We face intense competition and could lose market share to our competitors, which would adversely affect our business, operating results, financial condition, and prospects.”

“Our business would be harmed if we were not able to access sufficient power or by increased costs to procure power, prolonged power outages, shortages, or capacity constraints.”

“lack of availability and delays for data center equipment, including items such as GPUs, CPUs, memory, power distribution units, switchboards, breakers, cables, and cooling equipment”

“our ability to remediate our material weaknesses in our internal control over financial reporting”

“The multi-class structure of our common stock has the effect of concentrating voting power with our Co-Founders (as defined below), which will limit your ability to influence the outcome of important transactions, including a change in control.”

“the conflicts in the Middle East and Ukraine, tensions between China and Taiwan, and instability in Venezuela, inflation and stagflation, interest rate volatility, domestic and foreign regulatory uncertainty, changes in trade policies, including the imposition of tariffs, trade controls and other trade barriers”

“in the past, we have experienced, and we may in the future experience, insufficient power to service a customer's project, which instance was viewed as a performance issue, and have been required to provide service credits to that customer due to resulting performance issues.”