Can CoreWeave Convert Its $55B Backlog Into Profitable Growth?

Key Takeaways CRWV's revenue backlog hit $55.6B by Q3 2025, nearly doubling sequentially on major AI cloud contracts.CRWV added over $25B of backlog in Q3 as supply woes pushed customers into long-term, take-or-pay deals.CRWV diversified its backlog, lifted capacity to 590 MW active and preserved contract value.CoreWeave, Inc. (CRWV) reported exceptional momentum in building its revenue backlog, underscoring the strength of demand for its AI-focused cloud platform. The rapid expansion of backlog is occurrin ...