Enthusiasm for artificial intelligence (AI) -- and by extension, cloud computing companies -- continues ramping higher and higher. As it does, growth investors are paying increasing attention to opportunities like CoreWeave stock. Beginning in 2017, CoreWeave, a cloud platform provider and leading AI hyperscaler, has developed data centers in the United States and Europe uniquely designed to support the high-computing demands of artificial intelligence models.
While cloud computing and AI hyperscalers have grown significantly in recent years, many analysts recognize that there's plenty of continued growth in the years ahead. Grand View Research, for example, projects the market to soar at a compound annual growth rate (CAGR) of 23.9% from 2023, when it was valued at about $69.3 billion to 2030, when it's forecast to be valued at $310.1 billion.
Cloud Computing
Committed to expanding its global footprint, CoreWeave announced in June 2024 that it plans to open three new data centers in Europe by the end of 2025 -- an endeavor that will require about a $2.2 billion investment. This builds on the footprint it gained across the pond in January 2025 when it opened two new data centers in the United Kingdom.
The company's future certainly seems bright, but potential investors will undoubtedly have a variety of questions about CoreWeave, such as when it will hold its potential initial public offering (IPO) and whether any other investment opportunities exist.
IPO
Is it publicly traded?
Is CoreWeave publicly traded?
While CoreWeave was not a publicly traded company when 2025 began, it seems poised to hold its IPO soon. In early March 2025, CoreWeave submitted an S-1 filing indicating its intent to hold an IPO. While CoreWeave isn't an option for most investors until the stock officially holds its IPO, there are some famous companies that have gained equity in the AI hyperscaler.
In late 2024, CoreWeave closed a $650 million secondary sale, in which Fidelity, BlackRock (BLK 0.77%), and Cisco (CSCO 0.76%) picked up positions. This builds on other funding rounds, such as in 2023, when Nvidia (NVDA 0.14%) invested $100 million in the company.
IPO
When will CoreWeave IPO?
After CoreWeave completed a Series C funding round -- providing the company with $1.1 billion -- in May 2024, speculation ramped up that the company would pursue an IPO soon. That speculation became reality when CoreWeave officially filed to hold its IPO.
Although there is not a specific date set, there are widespread expectations that the company will find itself on the IPO calendar for 2025 -- possibly in the first half of the year.
How to invest
How to buy CoreWeave stock?
CoreWeave stock isn't viable for gaining AI exposure for most investors. Accredited investors, however, may be able to gain exposure to CoreWeave before its IPO through a platform like Forge Global (FRGE -1.34%).
For people who don't qualify as accredited investors but who are still interested in gaining cloud stock exposure, there are other opportunities they may wish to consider.
1. Nvidia
While investors can't gain direct exposure to CoreWeave stock, they can pick up indirect exposure by purchasing shares of Nvidia, thanks to its $100 million equity investment in CoreWeave. However, the relationship between the two companies transcends the equity investment.
In its June 2024 announcement addressing its expansion in Europe, CoreWeave singled out how its platform is especially advantageous because of Nvidia's Blackwell platform and Nvidia Quantum-2 InfiniBand networking. Jaap Zuiderveld, Nvidia's vice president of sales and marketing for Europe, the Middle East, and India, lauded the collaboration between the two companies, stating, "The Nvidia Blackwell platform and Nvidia Quantum-2 InfiniBand networking, available through CoreWeave's platform, will help set a new standard for AI performance in Europe by making supercomputing more accessible."
Additionally, CoreWeave announced in August 2024 that it was the first cloud provider to bring Nvidia's H200 Tensor Core graphic processing units (GPUs) to market.
2. Amazon
For those drawn to CoreWeave yet who are interested in a more conservative cloud computing option, Amazon (AMZN -0.18%) stock is a logical choice. Through its Amazon Web Services (AWS) business, Amazon has become an industry leader in cloud computing services.
The contribution that AWS makes to the company as a whole is considerable. Through the first three quarters of 2024, AWS represented about 17.5% of Amazon's total sales. However, the impact of AWS on the company's profitability is even more striking -- the cloud computing business represented about 61.6% of Amazon's operating income.
While Amazon has made tremendous strides in growing its AWS business, it's not to say that growth in the AWS segment is dwindling. Over the first nine months of 2024, AWS sales grew 18% year over year, representing a greater clip than the segment's 13% year-over-year growth that it achieved during the first nine months of 2023.
3. Applied Digital
Investors keen on growth stocks that provide cloud computing exposure will find Applied Digital (APLD -2.59%) to be a worthy consideration. From the design and development to the operation of data centers, Applied Digital -- which, like CoreWeave, has also received an investment from Nvidia -- caters to those specializing in the mining of cryptocurrency and AI customers.
The company made its way onto many more investor radars after it announced a deal with Macquarie Asset Management, which will provide Applied Digital with as much as $5 billion -- enough to support the development of 2 gigawatts of high-performance computing (HPC) data center development in investments, including $900 million to assist in the development of the 400-megawatt HPC campus in North Dakota.
During a November 2024 investor presentation, Applied Digital reported that it had more than 1 gigawatt of projects in its pipeline.
Although accredited investors may access platforms that allow them access to pre-IPO stocks, retail investors who aren't accredited and find themselves interested in buying shares of Nvidia, Amazon, or Applied Digital only have to take a few simple steps to become shareholders:
1) Open your brokerage app. Log into your brokerage account where you handle your investments.
2) Search for the stock. Enter the ticker or company name into the search bar to bring up the stock's trading page.
3) Decide how many shares to buy. Consider your investment goals and how much of your portfolio you want to allocate to this stock.
4) Select order type. Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
5) Submit your order. Confirm the details and submit your buy order.
6) Review your purchase. Check your portfolio to ensure your order was filled as expected, and adjust your investment strategy accordingly.
Profitability
Is CoreWeave profitable?
After CoreWeave submitted its S-1 filing, investors now have greater insight into the company's financial situation. The company has achieved extraordinary growth on its top line. In 2024, CoreWeave booked sales of $1.9 billion, compared to just $229 million in 2023.
CoreWeave also made progress toward generating earnings in 2024. It reported operating income of negative $22.9 million and $14.5 million in 2022 and 2023, respectively, then generated $324.4 million in operating income for 2024. The bottom of the income statement, however, fails to show comparable improvements. The company's net loss expanded from $593.7 million in 2023 to $863.4 million in 2024.
Should I invest?
Should I invest in CoreWeave?
Investing in CoreWeave is not a possibility for most people until the company holds its IPO; however, with the company submitting its S-1 filing, investors who are not accredited may not have to wait much longer.
When the company does officially debut on public markets, investors must recognize that while CoreWeave is securing a prominent foothold on the AI landscape, the company remains unprofitable. This implies a fair amount of risk with which potential investors must recognize and be comfortable assuming if they're going to proceed with clicking the buy button.
ETF options
ETFs with exposure to CoreWeave
Since CoreWeave hasn't debuted on public markets, investors won't find exchange-traded funds (ETFs) that offer exposure to the stock. Still, investors have some ETF options that are concentrated on cloud computing and AI.
- First Trust Cloud Computing ETF (SKYY 0.94%): Providing broad exposure to companies with cloud computing operations, the First Trust Cloud Computing ETF has 61 holdings and about $3.6 billion in assets under management. Pure Storage (PSTG 1.11%), a leader in data storage, is the fund's largest position with a 4.8% weighting, while Alphabet (GOOGL 0.51%)(GOOG 0.41%) makes up the second-largest holding. The First Trust Cloud Computing ETF has a 0.60% expense ratio.
- Global X Cloud Computing ETF (CLOU 0.3%) From software-as-a-service (SaaS) companies like Adobe (ADBE -0.2%) to data center real estate investment trusts (REITs) like Digital Realty (DLR -1.07%), the Global X Cloud Computing ETF also provides diverse exposure to cloud computing companies. The ETF has $341.5 million in net assets and a 0.68% expense ratio.
Related investing topics
The bottom line
The bottom line on CoreWeave
With the rapid escalation of AI, cloud computing stocks are becoming increasingly popular among investors, making it unsurprising that those focused on growth opportunities are keen on CoreWeave stock.
With the market still waiting for the company to hold its IPO, however, CoreWeave stock is not currently an investment option for most retail investors. Yet there are still compelling cloud computing options to consider, such as Amazon and Applied Digital and several ETF possibilities.
FAQ
Investing in CoreWeave FAQ
Can you buy stock in CoreWeave?
As of March 2025, CoreWeave wasn't a publicly traded company, but the company has filed an S-1, indicating it has plans to hold an IPO soon.
Will CoreWeave go public?
There is speculation that CoreWeave will hold an IPO during the first half of 2025.
What is the stock symbol for CoreWeave?
In its S-1 filing, CoreWeave indicated that it plans to trade under the stock ticker CRWV.
How much is CoreWeave worth?
Although it's unclear what is the current valuation for CoreWeave, Reuters reported that the company is seeking a valuation of $35 billion when it holds its IPO.
