Neocloud capital spending
Rented GPU capacity, financed mostly with debt. CoreWeave’s capital spending, operating cash flow and long-term debt, quarter by quarter from its filings.
Capital spending, four quarters$20.6B+139.9% against the four before
Capital spending, latest quarters$6.4BSum of each company’s latest quarter
Spend as share of cash flow946%Latest reported quarters combined
Companies1Public companies with structured filings
| Layer | Trend | Period ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CoreWeaveCRWV | Neoclouds | $6.4B | $20.6B | +139.9% | $679.0M | −$5.7B | 946% | — | Jun 2026 |
Four-quarter figures are the latest four reported quarters; the change compares the four before. Company-wide cash capex, not AI-only spending. Reporting periods vary. Debt change is the quarterly change in the long-term balance, not cash borrowing. Definitions and methodology
How is neocloud investment funded?
The cash flow statement shows how much capital spending is covered by operations. A shortfall identifies a funding gap, but does not identify its financing source. Debt, equity, existing cash, and lease arrangements need to be examined separately.