What's the difference between Applied Digital and CoreWeave?

Applied Digital is a challenger in Data Center Operators (Colo) based in United States; CoreWeave is a leader in GPU Clouds (Neoclouds) based in United States. Both operate in the AI & Data Center segment.

Who are Applied Digital's and CoreWeave's suppliers?

wafergraph tracks 7 suppliers for Applied Digital and 9 for CoreWeave; CoreWeave's include NVIDIA, AMD, Hon Hai (Foxconn).

Applied Digital vs CoreWeave

Applied Digital's primary segment is Data Center Operators (Colo); CoreWeave's is GPU Clouds (Neoclouds). CoreWeave is larger by market cap ($49.4B vs $7.6B). CoreWeave reports higher tracked revenue ($5.1B vs $611M).

Shared segment: AI & Data Center.

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Side-by-side

	Applied Digital	CoreWeave
Market cap	$7.6B	$49.4B
Revenue	$611M (FY2026)	$5.1B (FY2025)
Primary segment	Data Center Operators (Colo)	GPU Clouds (Neoclouds)
Market position	challenger	leader
Country	United States	United States
Tracked suppliers	7	9
Tracked customers	5	15
Chokepoint / criticality	7/100	81/100

Market caps/revenue from the wafergraph dataset · data as of 2026-10-04. Criticality is a graph-derived chokepoint score (0–100). Coverage is partial; "Unpriced" means no reliable market cap.

How Applied Digital and CoreWeave compare

Size: CoreWeave is the larger company by market cap.
Revenue: CoreWeave reports higher tracked revenue.
Supply-chain criticality: CoreWeave has the higher chokepoint score (81/100 vs 7/100).
Footprint: Applied Digital (United States) vs CoreWeave (United States).

Company hubs

Applied Digital · CoreWeave · AI & Data Center segment

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Cite as: wafergraph, “Applied Digital vs CoreWeave”, https://wafergraph.com/compare/applied_digital-vs-coreweave (data as of 2026-10-04).

Frequently asked questions3

Is Applied Digital bigger than CoreWeave?: CoreWeave is larger by market cap ($49.4B vs $7.6B).
What's the difference between Applied Digital and CoreWeave?: Applied Digital is a challenger in Data Center Operators (Colo) based in United States; CoreWeave is a leader in GPU Clouds (Neoclouds) based in United States. Both operate in the AI & Data Center segment.
Who are Applied Digital's and CoreWeave's suppliers?: wafergraph tracks 7 suppliers for Applied Digital and 9 for CoreWeave; CoreWeave's include NVIDIA, AMD, Hon Hai (Foxconn).