CoreWeave vs IREN
CoreWeave's primary segment is GPU Clouds (Neoclouds); IREN's is Data Center Operators (Colo). CoreWeave is larger by market cap ($45.0B vs $14.1B). CoreWeave reports higher tracked revenue ($5.1B vs $707M).
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Side-by-side
| CoreWeave | IREN | |
|---|---|---|
| Market cap | $45.0B | $14.1B |
| Revenue | $5.1B (FY2025) | $707M (FY2026) |
| 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 2026-10-09. 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).
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Cite as: wafergraph, “CoreWeave vs IREN”, https://wafergraph.com/compare/coreweave-vs-iren (data as of 2026-10-09).
Frequently asked questions3
- Is CoreWeave bigger than IREN?
- CoreWeave is larger by market cap ($45.0B vs $14.1B).
- What's the difference between CoreWeave and IREN?
- CoreWeave is a leader in GPU Clouds (Neoclouds) based in United States; IREN is a challenger in Data Center Operators (Colo) based in Australia. Both operate in the AI & Data Center segment.
- Who are CoreWeave's and IREN's suppliers?
- wafergraph tracks 9 suppliers for CoreWeave and 7 for IREN — CoreWeave's include NVIDIA, AMD, Hon Hai (Foxconn).