CoreWeave receives $107 million investment from Appaloosa Management

CoreWeave, a specialist in AI cloud infrastructure, has received a significant investment from David Tepper’s hedge fund, Appaloosa Management. According to regulatory filings, the fund built a position of approximately $107 million during the second quarter of 2026.

The company is experiencing rapid growth in demand, with its revenue backlog increasing by 246% year-over-year to reach $104 billion. In the second quarter of 2026, CoreWeave reported revenue of $2.575 billion, slightly exceeding expectations.

Despite this growth, the company faces operational challenges, including rising quarterly losses. However, analysts have responded positively to the company’s trajectory. Truist Securities raised its price target for CoreWeave from $155 to $165, citing improved pricing and contract structures that are expected to support margin expansion toward the end of 2026. Additionally, Nvidia continues to act as a strategic partner, maintaining a substantial stake in the company.