CoreWeave, Inc.
CRWVQ3 2025(CRWV Q2 FY2025)Derived94% AI
AI Revenue %
94%
AI Fair Value
$22.4B
AI Revenue (Q)
$1.1B
Total Revenue (Q)
$1.2B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
CoreWeave Q2 FY2025 revenue was $1,212.8M, up 207% YoY. Customer A at 71% of revenue. Acquired Weights & Biases (AI developer platform) for $1.0B in May 2025 and entered agreement to acquire Core Scientific (data center provider) in July 2025. Revenue description: 'cloud computing services, including compute enabled by our software and infrastructure optimized for AI and high-performance computing.' Revenue from committed contracts was 98% of total. 92% of revenue increase from existing customer expansion. 94% AI revenue derived from near-total AI focus. $1,212,788K × 94% = $1,140,021K AI revenue.
Analyzed by claude-opus-4-6
Quoted Figures
Revenue $1,212,788 [thousands] for Three Months Ended June 30, 2025
Condensed Consolidated Statements of Operations, 10-Q for Q2 FY2025
We generate revenue by providing our customers with cloud computing services, including compute enabled by our software and infrastructure optimized for AI and high-performance computing
Item 2 MD&A Components of Results of Operations, 10-Q for Q2 FY2025
Approximately 92% and 96% of the increase in revenue was attributable to expansion within our existing customer base...for the three and six months ended June 30, 2025
Item 2 MD&A Revenue, 10-Q for Q2 FY2025
Customer A 71% [of revenue for Three Months Ended June 30, 2025]
Note 2 Revenue Significant Customers, 10-Q for Q2 FY2025
AI Products Identified (Ring 1)
CoreWeave Cloud PlatformGPU cloud compute (AI training & inference)Committed capacity contractsWeights & Biases (AI developer platform, acquired May 2025)
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Non-AI HPC workloads (rendering, VFX, scientific computing)
Confidence Tier
DerivedCalculated from reported segments primarily serving AI