CoreWeave (CRWV) perpetual market

CoreWeave is a specialized cloud computing provider built specifically for artificial intelligence and other GPU-intensive workloads. Originally started in connection with cryptocurrency mining, it pivoted to renting out large fleets of high-end NVIDIA graphics processors as demand for AI computing exploded, positioning itself as a nimble alternative to the big general-purpose cloud providers for companies that need massive amounts of accelerated computing to train and run AI models. CoreWeave grew extremely quickly on the back of the AI boom, signing large contracts and securing priority access to scarce, cutting-edge chips, and it completed a closely watched public listing in 2025. Its business model relies on heavy borrowing to buy expensive hardware, which it then rents out, making it a highly leveraged and capital-intensive bet on continued AI demand. CoreWeave has become one of the clearest pure-play proxies for the appetite for AI computing infrastructure.