# CoreWeave

> US-listed specialist GPU cloud operator delivering high-performance infrastructure for AI applications.

## Why it is interesting

CoreWeave's Q3 2026 revenue grew 168% to $3.66B and revenue backlog reached $132.5B, but its $47.5B total debt and $846M net quarterly interest expense make cash conversion and debt structure central to the investment case.

## Profile

- **Latest funding:** Not publicly disclosed
- **Latest known valuation:** Not publicly disclosed
- **Total disclosed equity funding:** Not publicly disclosed
- **Stage:** public
- **Status:** public
- **Industries:** infra-cloud, ai-ml
- **Coverage:** full
- **Last updated:** 2026-11-13T00:00:00.000Z

## Key facts

- Q3 2026 revenue $3.661B (+168%), revenue backlog $132.5B, subject to future delivery.
- September 30, 2026 indebtedness $47.5B; Q3 GAAP net loss $709M despite adjusted EBITDA margin of 62%.
- Closed $2.6B DDTL 5.5 loan in August and $4.2B convertible-note issue in September 2026.
- About $9B customer prepayments expected in three months, not yet collected.

## Related articles

- https://venturecapitaltracker.com/coreweave-q3-2026-backlog-prepayments-debt
- https://venturecapitaltracker.com/coreweave-vs-nebius-neocloud-financing-2026

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** November 13, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.

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Source: https://venturecapitaltracker.com/startup/coreweave