capital · May 16, 2026
CoreWeave Maintains $99.4 Billion Backlog with 2027 Capacity Over 75% Contracted
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CoreWeave reported a $99.4 billion backlog as of May 16, 2026, with its 2026 capacity largely sold out and over 75% of 2027 capacity already contracted. Management targets an FY2027 annualized revenue run-rate exceeding $30 billion. The company raised its annual capex forecast amid rising component prices, with elevated debt and equity erosion risks noted alongside a long-term adjusted EBITDA margin target of 70%. The stock trades at an EV/Sales multiple of 7.24x following a recent correction.
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