Who CoreWeave buys from and sells to
Rents NVIDIA GPU clusters by the hour or on multi-year contracts to AI labs and hyperscalers.
Part of AI Capex spending
Buys from 6
Sells to 4
- MicrosoftMSFTcapacity rented back by the hour~67% of 2025 revenue (FY2025, per reporting)
- OpenAItraining capacity, up to ~$22.4B contracted
- MetaMETAmulti-year AI compute contracts
- Anthropiccompute capacity signed in 2026
Where the chain could break
- Top customer ~36% and top three ~72% of Q2 2026 revenue
- Entire fleet is NVIDIA GPUs; allocation and pricing set by one vendor
- Build-out funded with heavy debt against customer contracts
Competes with
- AmazonAMZNrenting the same silicon at a different price
- NebiusNBISneocloud GPU capacity for the same buyers
- OracleORCLOCI GPU capacity for OpenAI and others
Mapped by hand from filings and company reporting, as of October 2026. It shows the relationships that matter most, not every contract: most are never disclosed, and agreements change.