CoreWeave, Inc. (NASDAQ:CRWV) had a busy week that included its entry into India and a sell-off tied to OpenAI’s revenue disclosure.
- CoreWeave shares are advancing steadily. What’s driving CRWV shares up?
CoreWeave Enters India With a 240 MW AdaniConneX Campus
On Oct. 7, CoreWeave announced its entry into India through a collaboration with AdaniConneX. It plans to deploy 240 megawatts of data center capacity at AdaniConneX’s Taloja campus in Navi Mumbai, across three 80 MW buildings. CoreWeave will be the sole tenant and has the option to double capacity by up to 240 MW. It plans to deploy the NVIDIA Vera Rubin platform and to open an office and hire locally. The first phase is expected to be available in mid-2028, with more capacity coming online in phases. The expansion follows CoreWeave’s recent entry into Indonesia. As of its Aug. 11 earnings call, the company had about 4.2 gigawatts of contracted power.
“India has the talent, developers, and ambition to become a major center of AI innovation,” said Sachin Jain, COO of CoreWeave.
AI Stocks Fall After OpenAI Discloses Lower Revenue Run Rate
On Oct. 8, CNBC reported that OpenAI told investors it hit roughly $50 billion in annualized revenue at the end of September. That is lower than the $68 billion figure widely reported late last month. A person familiar with the matter told CNBC the $68 billion figure included gross revenue from OpenAI’s partners, and that the $50 billion figure allows a more direct comparison with rival Anthropic. CoreWeave shares slipped nearly 8% Thursday, while Nvidia fell 3% and Oracle fell nearly 6%. OpenAI is one of CoreWeave’s customers, so investors are watching whether its spending can keep supporting CoreWeave’s growth.
CoreWeave Shares Edge Higher
CRWV Price Action: At the time of writing, CoreWeave shares are trading 2.58% higher at $83.69, according to data from Benzinga Pro.
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