CoreWeave · customer concentration
CoreWeave’s biggest customers
Who are CoreWeave’s biggest customers?
Microsoft: 67% of FY2025 revenue
“We recognized an aggregate of approximately 67% of our revenue from our top customer, Microsoft, for the year ended December 31, 2025.”
CoreWeave 10-K, verbatim · 10-K · filed Mar 2, 2026
Numbers, method and sources
Share of revenue per customer as tagged in the filing’s XBRL (ConcentrationRiskPercentage, benchmark revenue). US GAAP requires disclosure only for customers with at least 10% of revenue; a year without a customer means below 10% or not disclosed. Labels like “Customer A” are the filer’s own; the same label is not guaranteed to be the same customer every year.
FY2025
- Microsoft 67%
FY2024
- Customer A (not named in filing) 62%
- Customer C (not named in filing) 15%
FY2023
- Customer A (not named in filing) 35%
- Customer B (not named in filing) 21%
- Customer C (not named in filing) 17%
“We recognized an aggregate of approximately 73% of our revenue for the year ended December 31, 2023, from our top three customers.”
SEC filings only. No market data.
Is CoreWeave getting more dependent on one customer?
Largest disclosed customer, by fiscal year
Which customers does the filing name?
“Similarly, in September 2025, we entered into an order form under an existing master services agreement pursuant to which Meta Platforms, Inc. ("Meta") initially committed to pay us up to approximately $14.2 billion through December 2031 and, as a result, we also expect Meta to be a significant customer in future periods.”
“Other significant customers include Microsoft and Meta.”
All CoreWeave facts from SEC filings · Customer concentration of all companies