Following reports that OpenAI missed its sales targets, related concept stocks faced collective pressure. CoreWeave promptly responded, stating that its business does not rely on a single customer and that demand for AI computing power still exceeds supply. However, market concerns were not entirely alleviated, with the company's U.S.-listed shares falling over 5% at the market open.
On April 28, according to a Bloomberg report, a CoreWeave spokesperson stated in an email declaration that OpenAI is "a great partner, but not our only partner." The company highlighted that its client base is "diverse and expanding," encompassing numerous organizations including Meta Platforms, Anthropic, Microsoft, Google, IBM, Perplexity AI, and Jane Street.
CoreWeave also indicated that as more companies develop and deploy AI, computing power demand continues to grow. "We continue to see demand outstripping supply across the entire AI ecosystem, especially as inference scaling accelerates," the company stated. This communication aimed to signal to the market that even if OpenAI faces growth pressures, CoreWeave's fundamental business remains strong.
The sales pressure at OpenAI triggered a chain reaction in the market. Citing informed sources, The Wall Street Journal reported on Monday that OpenAI failed to meet its own sales targets for several months in 2026, partly due to competitor Anthropic gaining share in programming and enterprise markets. Concurrently, ChatGPT did not achieve its internal target of 1 billion weekly active users by the end of 2025, with user churn rates under pressure from the rise of Google's Gemini.
The report stated that OpenAI's CFO, Sarah Friar, has expressed concerns in communications with other company executives: if sales growth is not fast enough, the company may struggle to afford future computing power expenditures. OpenAI had previously indicated commitments exceeding $1.4 trillion for AI infrastructure.
This news sparked widespread questioning of the return on investment in AI infrastructure. SoftBank Group's stock fell over 7.5% at one point in Tokyo trading. SoftBank committed $30 billion in OpenAI's $110 billion funding round completed this past February. Including this latest commitment, its total investment in OpenAI is set to reach $64.6 billion by year-end, representing an approximate 13% stake.
CoreWeave's client portfolio covers leading AI developers. As a representative firm in the "neocloud" camp, CoreWeave specializes in providing high-performance cloud computing rental services for AI workloads. The client list disclosed in its response shows a notably wide business coverage.
Notably, CoreWeave's client matrix now includes Anthropic, OpenAI, Google, and Meta—the world's four largest AI model developers. Among them, Meta Platforms has made computing power purchase commitments to CoreWeave totaling $21 billion; Anthropic has signed a multi-year data center leasing agreement with CoreWeave to support its Claude model services.
According to a disclosure from CoreWeave this past February, the company currently operates 43 active data centers and has secured power capacity for server farms exceeding 3 gigawatts. Major tech firms like Microsoft have also turned to neocloud providers like CoreWeave to rapidly expand their ability to build and deliver AI products.
The fundamental logic of computing power demand remains unchanged, with the supply-demand gap continuing to be the core narrative. The central argument of CoreWeave's response is that the demand side for AI computing power does not depend on the sales performance of any single model company but is driven by the expansion of the entire ecosystem. The company emphasized that supply still struggles to keep pace with demand growth, particularly against the backdrop of rapidly scaling AI inference needs.
This statement directly addresses a key market concern—whether massive investments by AI developers and large tech companies in areas like data centers and chips will yield sufficient returns. For CoreWeave's investors, the company's ability to maintain client diversification and continue expanding revenue sources beyond OpenAI will be a critical variable in assessing its long-term value.
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