Applied Digital vs CoreWeave
CoreWeave is larger by market cap ($49.3B vs $8.6B). CoreWeave reports higher tracked revenue ($5.1B vs $611M). Applied Digital's primary segment is Data Center Operators (Colo); CoreWeave's is GPU Clouds (Neoclouds).
Shared segment: AI & Data Center.
Side-by-side
| Applied Digital | CoreWeave | |
|---|---|---|
| Market cap | $8.6B | $49.3B |
| Revenue | $611M (FY2026) | $5.1B (FY2025) |
| Primary segment | Data Center Operators (Colo) | GPU Clouds (Neoclouds) |
| Market position | challenger | leader |
| Country | United States | United States |
| Tracked suppliers | 7 | 9 |
| Tracked customers | 5 | 15 |
| Chokepoint / criticality | 7/100 | 81/100 |
Market caps/revenue from the wafergraph dataset · data as of 2026-08-12. Criticality is a graph-derived chokepoint score (0–100). Coverage is partial; "Unpriced" means no reliable market cap.
How Applied Digital and CoreWeave compare
- Size: CoreWeave is the larger company by market cap.
- Revenue: CoreWeave reports higher tracked revenue.
- Supply-chain criticality: CoreWeave has the higher chokepoint score (81/100 vs 7/100).
- Footprint: Applied Digital (United States) vs CoreWeave (United States).