CoreWeave and Legend Biotech: The AI and Biotech Powerhouses to Weather Market Volatility

In a market rife with uncertainty, investors are gravitating toward companies with unstoppable growth trajectories, ironclad partnerships, and scalable innovations. CoreWeave (NASDAQ: CRWV) and Legend Biotech (NASDAQ: LEGN) are two such firms, each dominating their respective sectors—AI infrastructure and CAR-T cell therapy—with metrics that defy the volatility gripping traditional markets. Here's why these underfollowed leaders are must-hold positions for 2025 and beyond.

CoreWeave: The AI Infrastructure Giant with a $25.9B Backlog

CoreWeave is the Tesla of AI infrastructure, scaling at a pace that dwarfs its peers. In Q1 2025, revenue skyrocketed 420% year-over-year to $981.6 million, driven by its $25.9 billion revenue backlog—a staggering figure composed of $14.7 billion in Revenue Performance Obligations (RPO) and $11.2 billion from committed contracts. The crown jewel here is the five-year, $11.2 billion deal with OpenAI, which alone accounts for nearly half of its backlog.

Why it's a buy now:
- Market Dominance: CoreWeave's infrastructure now spans 1.6 gigawatts of contracted power, with 420 MW actively deployed—enough to power 340,000 homes. This scale positions it as the go-to partner for AI giants like Microsoft (which contributed 62% of 2024 revenue) and newcomers like OpenAI.
- Profitability on the Horizon: Despite a Q1 2025 net loss of $314.6 million (driven by IPO-related stock compensation), Adjusted EBITDA hit $606.1 million (62% margin), up from $104.5 million (55% margin) in 2024. Management forecasts profitability within three years, fueled by a 67.5% annual earnings growth trajectory.
- Underfollowed Status: With a market cap of just $4.2 billion, CoreWeave trades at 6x trailing revenue—a steal compared to hyperscalers like Amazon Web Services (AWS).

Legend Biotech: The CAR-T Leader with a $1.1B Cash Runway

Legend Biotech is rewriting the rules of oncology with CARVYKTI, its FDA-approved CAR-T therapy for multiple myeloma. In 2024, revenue surged 127% to $627 million, with $963 million in full-year CARVYKTI sales, putting it on the cusp of blockbuster status ($1 billion annually). The company's $1.1 billion cash pile gives it a runway through Q2 2026—a critical period as it expands into Europe and solid tumor treatments.

Why it's a buy now:
- Clinical Breakthroughs: CARVYKTI's Phase 3 data showed an 89% minimal residual disease (MRD) negativity rate, a gold-standard marker of efficacy. Spain's recent reimbursement approval adds to its 2024 wins in the U.S. and EU.
- Strategic Partnerships: The $138.4 million license deal with Novartis for its next-gen CAR-T therapy (LB2102) opens doors to solid tumor markets, while Janssen collaboration revenue hit $482.6 million in 2024.
- Path to Profitability: Adjusted net loss narrowed to $188.8 million in 2024, a 43% improvement over 2023. With manufacturing costs dropping due to a Novartis partnership (scaling production to 1,000+ patients annually), operating profit is achievable by 2026.

Why These Stocks Will Outperform in a Volatile Market

1. Defensible Moats: CoreWeave's AI infrastructure is irreplaceable for training large models, while Legend's CARVYKTI holds 90% share of the multiple myeloma CAR-T market.
2. Capital Efficiency: Both firms are scaling without dilution—CoreWeave's $17.2 billion in debt/equity and Legend's $1.1B cash provide ample fuel.
3. Untapped Upside: At 3x sales multiples, they're priced for failure in a sector where growth stocks typically trade at 10x+.

Final Call: Act Before the Crowd Catches On

CoreWeave and Legend Biotech are the rare stocks that marry explosive growth with tangible fundamentals. With AI adoption accelerating and CAR-T therapies redefining cancer treatment, their trajectories are all but assured.

• CoreWeave (CRWV): Buy dips below $25.00; target $50+ in 12–18 months.
• Legend Biotech (LEGN): Accumulate below $18.00; upside to $30+ as CARVYKTI expands into solid tumors.

The market's volatility is a gift for disciplined investors. These two are not just stocks—they're decades-long platforms for innovation. Delaying action here is a costly mistake.

Investing in these companies carries risks, including market volatility, regulatory changes, and execution risks. Always conduct thorough due diligence.