CoreWeave vs IREN
CoreWeave is larger by market cap ($49.3B vs $14.2B). CoreWeave reports higher tracked revenue ($5.1B vs $501M). CoreWeave's primary segment is GPU Clouds (Neoclouds); IREN's is Data Center Operators (Colo).
Shared segment: AI & Data Center.
Side-by-side
| CoreWeave | IREN | |
|---|---|---|
| Market cap | $49.3B | $14.2B |
| Revenue | $5.1B (FY2025) | $501M (FY2025) |
| Primary segment | GPU Clouds (Neoclouds) | Data Center Operators (Colo) |
| Market position | leader | challenger |
| Country | United States | Australia |
| Tracked suppliers | 9 | 7 |
| Tracked customers | 15 | 5 |
| Chokepoint / criticality | 81/100 | 7/100 |
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 CoreWeave and IREN 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: CoreWeave (United States) vs IREN (Australia).