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AI Cloud Giant CoreWeave Secures $25B+ in New Deals
20 Sep
Summary
- CoreWeave secured over $25 billion in new customer commitments.
- The company's new deals are priced higher than previous contracts.
- AI cloud demand is expected to outstrip supply until the decade's end.
CoreWeave, a provider of AI-specific cloud infrastructure, has reported a substantial increase in customer demand. In early Q3 2026, the company secured more than $25 billion in net new customer commitments, adding to its existing backlog. These new short-dated contracts, lasting three to six months, are priced at approximately $40 million per megawatt.
This influx of business contributes to CoreWeave's growing total contracted power, which reached about 4.2 gigawatts as of August 11, 2026. This figure rose from roughly 3.7 gigawatts at the close of June 2026. The company's CEO, Mike Intrator, has consistently highlighted a widening gap between supply and demand for AI computing power.
Intrator noted a significant shift, with enterprise clients increasingly seeking dedicated AI compute solutions. He projects that the industry will not achieve a balance between AI computing power supply and demand until the end of the current decade.
