CoreWeave (CRWV) has had a lot going on lately. The company recently became the first AI cloud provider to put multi-rack clusters using Nvidia (NVDA)’s Vera Rubin NVL72 systems into customer production. These setups link hundreds of Rubin GPUs together, and no other neocloud provider has publicly announced a similar deployment. CoreWeave also signed more than $25 billion in net new customer commitments early in the third quarter. That adds to its $104.2 billion revenue backlog as of June 30, up 246% from a year earlier.
Still, investors have been cautious. CRWV shares are down about 17.80% over the past three months and trade near $87, though they remain up 21.35% so far this year.
