capexScore 65/100Research
CoreWeave raises 2026 CapEx guidance to $35-39B and targets 8GW active power by 2030
“We now expect 2026 CapEx in the range of $35 billion to $39 billion... We remain firmly on track to reach at least 8 gigawatts by 2030.”
Why it matters
A single neo-cloud committing ~$37B of annual capex and scaling from 1.5GW to 8GW represents a massive, contracted demand stream for power infrastructure, data center construction, liquid cooling, networking, and GPUs — with $104B backlog providing visibility.
Investment implication
Bullish for data center infrastructure suppliers (power equipment, cooling, switchgear, construction) and for NVIDIA. Watch CRWV's financing capacity ($640M quarterly interest expense rising to ~$900M) as the key risk to execution.