CoreWeave, the AI cloud platform that went public just 15 months ago, joined the Nasdaq-100 Index on June 22, 2026, marking a significant milestone in its rapid ascent as a leading provider of GPU cloud infrastructure for artificial intelligence workloads.
The inclusion, announced June 12, brings CoreWeave into an index tracked by over $662 billion in ETF assets and mutual funds, according to recent regulatory filings. Index inclusion typically triggers automatic buying from passive funds that must hold the stock to track the benchmark, a structural benefit that has historically lifted stock prices and boosted visibility among institutional investors.
CoreWeave’s trajectory to the Nasdaq-100 reflects explosive growth in the AI infrastructure market. The company priced its IPO at $40 per share on March 28, 2025, raising $1.5 billion. Since then, its stock has climbed roughly 50% year-to-date in 2026, even before the index inclusion announcement.
Revenue has surged alongside demand for AI computing capacity. In 2024, CoreWeave generated $1.9 billion in revenue. By 2025, that figure more than doubled to $5.1 billion. In the first quarter of 2026 alone, the company reported revenue of $2.078 billion, up 112% year-over-year from $982 million in Q1 2025, according to company filings.
The company has guided for 2026 revenue between $12 billion and $13 billion, with capital expenditure of $31 billion to $35 billion as it races to build out data center capacity to meet surging demand. CoreWeave’s revenue backlog has also swelled to $66.8 billion as of February 2026, providing visibility into future revenue streams.
Much of that growth is fueled by contracts with major AI players. In March 2025, OpenAI signed a five-year agreement with CoreWeave valued at $11.9 billion to secure GPU cloud capacity for training and deploying its latest models. Microsoft also maintains multi-billion-dollar contracts with CoreWeave to support its AI infrastructure needs, according to prior announcements.
CoreWeave’s index inclusion comes amid broader momentum in AI infrastructure stocks. The company competes in a market where demand for specialized GPU cloud services has grown roughly 1,000% year-over-year, according to research from Sacra. The Nasdaq-100’s addition of CoreWeave and other growth-stage companies reflects the index’s evolution to capture emerging leaders in high-growth sectors.
Sources
- CoreWeave Investor Relations — Nasdaq-100 Index inclusion announcement and Q1 2026 earnings data
- SEC Filings — CoreWeave 10-K and quarterly reports detailing revenue, capex guidance, and revenue backlog
- TechCrunch — OpenAI’s $11.9 billion five-year agreement with CoreWeave
- Seeking Alpha — Q4 2025 earnings and 2026 guidance details
- Oregon State Treasury — Nasdaq-100 Index assets under management and exposure figures
- Investing.com — CoreWeave stock performance and year-to-date gains
