CoreWeave Inc. (NASDAQ: CRWV) and Super Micro Computer Inc. (NASDAQ: SMCI) are both prominent players in the AI infrastructure sector, yet they operate with distinct business models and financial profiles. Here's a comparative analysis:
📊 Financial Overview (as of May 14, 2025)
| Metric | CoreWeave (CRWV) | Super Micro Computer (SMCI) |
|---|---|---|
| Market Cap | ~$29.4 billion | ~$23.2 billion |
| Revenue (TTM) | $1.9 billion (2024) | $21.57 billion |
| P/S Ratio | ~15.3x | ~1.24x |
| Net Income (2024) | -$863 million | Data not specified |
| Revenue Growth (YoY) | 420% (Q1 2025) | 82.5% (TTM) |
🏢 Business Models
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CoreWeave: Specializes in providing cloud-based GPU computing resources tailored for AI and machine learning workloads. The company offers on-demand access to high-performance GPUs, catering to clients like OpenAI and Microsoft.
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Super Micro Computer: Focuses on designing and manufacturing high-performance server and storage solutions. Their products are integral to data centers and enterprises requiring robust computing infrastructure.
Growth and Market Position
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CoreWeave: Despite being a newer entrant, CoreWeave has demonstrated explosive growth, with a 420% year-over-year revenue increase in Q1 2025. The company has secured significant contracts, including a $11.2 billion deal with OpenAI, contributing to a total revenue backlog of $25.9 billion
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Super Micro Computer: Established in the industry, Supermicro reported a 19.5% year-over-year revenue growth in the quarter ending March 31, 2025. The company continues to expand its market share in the server and storage solutions sector
Valuation Insights
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CoreWeave: With a P/S ratio of approximately 15.3x, CoreWeave is valued at a premium, reflecting investor optimism about its rapid growth and strategic partnerships
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Super Micro Computer: Trading at a P/S ratio of around 1.24x, Supermicro presents a more conservative valuation, which may appeal to investors seeking established companies with steady growth .
Strategic Considerations
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CoreWeave: The company's aggressive expansion and significant contracts position it as a formidable player in the AI cloud infrastructure space. However, its high valuation and net losses indicate a higher risk profile.
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Super Micro Computer: With a solid foundation and consistent growth, Supermicro offers stability. Its lower valuation suggests potential for appreciation, especially if it capitalizes on the growing demand for AI-related hardware.
Conclusion: Investors seeking high-growth opportunities in the AI cloud sector might find CoreWeave appealing, albeit with higher risk. Conversely, those preferring established companies with steady growth may consider Super Micro Computer as a more conservative investment.
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