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Australia’s CoreWeave Enters Nasdaq-100 With Nearly $99 Billion Backlog
Just over 15 months after its IPO, CoreWeave CRWV Nasdaq-100 will be effective from June 22 2026. The AI infrastructure company has a backlog of nearly $99 billion, backing from NVIDIA and favorable early adoption reaction from Meta and Anthropic.
CoreWeave CRWV CoreWeave is an AI cloud infrastructure company, and its inclusion in the Nasdaq-100 will become effective on June 22, 2026, less than 15 months after its IPO. CoreWeave is one of five new additions to the Nasdaq-100, cementing another achievement in its spectacular rise since listing.
This means funds that track the Nasdaq-100 must buy shares of CoreWeave in order to keep up with their index, making index-related buying an important market driver in the short run.
Boost Visibility For CoreWeave CRWV Nasdaq-100 June 22 2026
CoreWeave is one of the newest additions to the most well-known index of U.S. stocks, the tech-heavy Nasdaq-100.
The addition should boost demand for the shares from index funds and exchange-traded funds tracking the Nasdaq-100. Once the change takes place, these funds need to buy CoreWeave shares in order to mimic the index. The addition means CoreWeave will now be included in portfolios tied to the index for Australian investors with exposure to Nasdaq-100 funds.
CoreWeave Launching New NVIDIA GPU Cloud In Response To Demand
NVIDIA GPUs are core to the business that CoreWeave has built out access to high-performance AI computing infrastructure.
It is the first company to make NVIDIA’s Blackwell and Blackwell Ultra systems widely available and anticipates being one of the first to host on the upcoming Vera Rubin platform.
NVIDIA still has a 45% ownership stake in CoreWeave it owns over 47 million shares. The chipmaker has also committed to buying additional compute capacity which it can't sell until 2032.
CoreWeave Revenue Backlog $99B Growth Pipeline
The company recently announced its order backlog of nearly $99 billion in contracted business, highlighting the current strength and large market available for AI infrastructure. It also received new orders from Meta and brought Anthropic on as a customer. Anthropic will use CoreWeave GPUs to build and deploy its Claude AI model.
It also announced an expanding base of customer diversity, with 10 customers projected to spend over $1 billion each with the company.
While this short-list index is competed with by every cloud provider including giants in the game like Amazon and Microsoft it remains truly focused on AI workloads. There was no mention of any major partnership. The company subsequently drew attention since its CoreWeave IPO 15 months ago for robust revenue growth and growing demand for computing capacity to be used in AI.
The addition to the Nasdaq-100 is also anticipated to drive passive buying in AI infrastructure ETFs, as it forces those funds that track that index to own CoreWeave.
Source: Motley Fool
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