CoreWeave said demand for artificial-intelligence computing is accelerating as enterprises seek alternatives to the largest cloud providers, according to remarks by Chief Executive Michael Intrator at the Goldman Sachs Communacopia + Technology Conference on Tuesday, September 8, 2026.
The company reported $7.6 billion in revenue over the last twelve months, a 115% increase year over year, and a 67% gross profit margin. Its shares have risen nearly 40% year to date, while its current ratio stood at 0.46 and levered free cash flow was negative $13.7 billion.
Intrator said CoreWeave is building its first two to three self-built data centers, expected to come online by the end of 2024, and has contracted more than 1 gigawatt of power capacity outside the United States. The company also said 75% of its customers use three or more of its services, and that internal experience suggests customer compute needs often appear much larger nine months after an initial request.
The company highlighted Mission Control, an observability product, and Omni, which allows third parties to use CoreWeave software on their own infrastructure. Caterpillar was cited as an enterprise customer, and NVIDIA was referenced in connection with a partner or reference architecture.
Intrator compared CoreWeave’s design choice to “the minivan versus the F1,” saying the company built a performance-first architecture for AI and parallelized computing rather than retrofitting older systems. He said enterprises are approaching AI cloud services “with their eyes wide open,” seeking more control, better performance and lower costs than the traditional oligarchy of three massive hyperscalers.
He also addressed local and political scrutiny of data-center construction, saying that limiting buildout “is kind of a fool’s errand in some ways, because I think the demand for the compute doesn’t change. It just moves.”
