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CoreWeave's stock has surged 280% since its IPO, driven by the company's rapid growth in cloud infrastructure services for AI workloads. While the stock is expensive with a sales multiple of 27, its recent quarterly results justify the valuation, with a 5x increase in revenue to $982 million and a 6.5x jump in adjusted operating income to $163 million. The company's $25.9 billion revenue backlog is well above its 2025 forecast of $5 billion, leading analysts to be upbeat about its revenue growth for the next two years.

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