One tech company that doesn't have a terribly large market cap and that can benefit from the soaring demand for Nvidia's cutting-edge chips is CoreWeave (CRWV +7.16%). At a market cap of around $60 billion, it's an important player in tech, but its valuation isn't as astronomical as that of other tech giants.
It struggled late last year, but so far in 2026, the tech stock has been doing well, with its shares rising by close to 50%. And the good news? They may climb even higher this year, as shareholders recently got some great news.
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CoreWeave is getting added to the Nasdaq-100
Earlier this month, CoreWeave announced it was among the Nasdaq stocks that would be added to the Nasdaq-100 index as part of the latest update. The index includes the top 100 non-financial companies that are on the exchange. It's symbolic of how large CoreWeave has become and its growing important in the tech sector. The changes will go into effect next week, on June 22.
This is big news for CoreWeave as it will mean funds that track the Nasdaq-100 will now have exposure to CoreWeave. That results in more buying and puts upward pressure on the stock, which could lead to further gains for investors. Plus, investors who screen for top growth stocks within the index may become more familiar with CoreWeave, and that, too, may result in more buying. It's a great scenario all around for CoreWeave, as it could lead to higher returns in both the short- and long-term.
NASDAQ: CRWV
Key Data Points
Is CoreWeave stock worth buying today?
CoreWeave makes money from renting out compute space and giving companies access to Nvidia's latest and greatest chips. As demand for computing power rises, so too does CoreWeave's revenue. Last year, its revenue topped $5.1 billion, representing a massive increase from the $1.9 billion in revenue it posted in the previous year. The challenge with CoreWeave, however, is that its expenses are also high; it has incurred a net loss of $1.6 billion in the trailing 12 months, despite continually growing its operations.
For that reason, it can still be a bit risky to own, and it's not a stock I would suggest you can safely buy and forget about for the long haul. But if you want exposure to a tech stock with a lot of upside and that can benefit from the growing tech build-out, then CoreWeave could be a good buy, especially now that it's making the jump to the Nasdaq-100.
