CoreWeave Backlog Nears $100B as Nvidia Ties Deepen Amid Profit Doubts

CoreWeave's backlog nearing $100 billion underscores surging AI demand on June 2, yet heavy capex, debt and margin pressure raise profitability concerns despite its deepening Nvidia partnership. The latest update follows CoreWeave's June 1 surge of roughly 14% to $124.90 after deploying Nvidia's Vera Rubin NVL72 system, which lifted Nvidia shares 6.26% while volumes spiked 90% above average. Nvidia holds an 11% stake, CoreWeave will join the Russell 3000 on June 27, and latest quotes show NVDA at $222.68 and CoreWeave at $119.15, illustrating continued momentum tempered by execution risks.