Catenaa, Wednesday, September 09, 2026- CoreWeave says it is struggling to keep up with the demand for Nvidia chips as AI demand surges.
“We are struggling to meet demand every day,” CoreWeave CEO Michael Intrator told Yahoo Finance from the Goldman Sachs Communacopia & Tech Conference (video above). “Every GPU we have could be sold to multiple different clients. It is a unique moment, and it continues to be.”
Nvidia serves as the backbone, primary supplier, and main financial guarantor for CoreWeave’s ever-expansive neocloud operation.
Beyond supplying 100% of the advanced GPUs powering CoreWeave’s specialized AI data centers, Nvidia acts as a major strategic shareholder, holding an 11.5% equity stake.
Nvidia said after reporting the fiscal second-quarter earnings that it sees 70% revenue growth for fiscal year 2028, above analyst forecasts for 45% growth.
The sales gain would be larger, think in excess of 100%, if not for memory chip shortages, Nvidia CEO Jensen Huang said.
That demand outlook should keep CoreWeave’s business humming.
CoreWeave reported that second-quarter sales surged 112% year over year. Adjusted operating profits more than doubled to $1.5 billion.
Driven by explosive enterprise demand for graphics processing unit (GPU) compute and a massive $104 billion total revenue backlog, management raised its full-year 2026 revenue guidance to a range of $12.4 billion to $13.2 billion.
CoreWeave stock responded accordingly, up about 40% year to date.
“The quarter demonstrated that AI demand remains robust, strengthening pricing power (25% increases across SKUs), growing software/token business, and upside surprises on margins,” Citi analyst Tyler Radke wrote.
“Overall, this was one of the cleaner quarters we’ve seen from CoreWeave since the IPO, and we think shares should move meaningfully higher on increased investor confidence in the execution and improving profitability.”
Nvidia’s torrid growth means “that we got a lot of work to do,” Intrator said.
“The debate around data centers has been expansive,” CoreWeave CEO Michael Intrator told Yahoo Finance from the Goldman Sachs Communacopia & Tech Conference (video above), noting that the discussion has become politically charged ahead of the midterm elections.
“But let’s be very clear,” Intrator continued, “the demand for compute will not be altered by a jurisdiction saying you’re not allowed to build data centers here. All that will do is cause the data center to move to a different location.
It will cause perhaps an increase in cost, but ultimately the data center will be built and delivered because the market signals are for that to happen.”
Intrator’s CoreWeave is a key player in deploying chips from the likes of Nvidia that are powering the AI boom.
The backlash is real and is slowing the build-out of critical AI infrastructure.
The first three months of this year saw local data center opposition block or delay 75 projects worth $130 billion in planned construction, according to an analysis from the Brookings Institution. This was about the same number of projects impacted in all of 2025.
Meanwhile, a new Gallup poll found that 70% of Americans oppose building AI data centers in their local area, with nearly half (48%) strongly opposed.
Barely a quarter favor data center projects, with 7% strongly in favor.
“We have done a lot of work to derisk our pipeline,” Intrator said. “And those things include a really diversified portfolio of places that we’re building infrastructure within the domestic US, but also, we’ve spent a good bit of time building up our pipeline of international data centers. And so we’ve got in excess of a gigawatt worth of capacity outside of the US.”
