Why Customer Concentration Is a Long-Term Test for CoreWeave

Execution will dominate the conversation around CoreWeave (NASDAQ: CRWV) in 2026. Investors will closely watch how it manages capacity delivery, capital discipline, and infrastructure rollout. But beyond those near-term proofs, there's a quieter, more structural issue that could determine CoreWeave's durability as a business over the next decade: customer concentration. Today, a large share of CoreWeave's revenue comes from a small number of artificial intelligence (AI) hyperscalers. That high customer c ...