CEO Michael Intrator says every available GPU could serve multiple customers as AI infrastructure demand drives a $104 billion revenue backlog
CoreWeave (CRWV) continues to see overwhelming demand for artificial intelligence computing infrastructure as its close relationship with Nvidia (NASDAQ: NVDA) positions the company to benefit from accelerating AI investment.
“We are struggling to meet demand every day,” CoreWeave CEO Michael Intrator said at the Goldman Sachs Communacopia & Technology Conference. Intrator added that every GPU in CoreWeave’s infrastructure could currently be allocated to multiple customers, highlighting continued supply constraints across the AI computing market.
Nvidia plays a critical role in CoreWeave’s expansion, supplying the advanced GPUs powering its specialized AI data centers while also holding an approximately 11.5% equity stake in the company.
The demand environment appears increasingly favorable. Nvidia recently projected approximately 70% revenue growth for fiscal 2028, significantly above previous analyst expectations, while CEO Jensen Huang indicated growth could be even stronger without memory supply constraints.
CoreWeave is already benefiting from the AI infrastructure boom. Second-quarter revenue surged 112% year over year, while adjusted operating profit more than doubled to $1.5 billion.
With a total revenue backlog reaching $104 billion, management raised its full-year 2026 revenue forecast to between $12.4 billion and $13.2 billion.
The combination of limited GPU availability, rising pricing power and sustained enterprise AI spending could provide CoreWeave with significant momentum as demand for computing capacity continues to outpace supply.
