CRWV vs IREN Stock Comparison: AI Score, Valuation, Performance and Upside
CoreWeave is a scaled, pure-play AI cloud infrastructure leader with a large contracted backlog, while IREN is a smaller, faster-transitioning company converting bitcoin mining infrastructure into AI cloud capacity. The comparison generally weighs CoreWeave's established scale and backlog against IREN's earlier-stage but rapidly accelerating AI pivot and residual crypto exposure.
This comparison is best used to weigh an established, large-scale AI cloud infrastructure leader against a smaller, higher-beta company transitioning from bitcoin mining into AI hosting with faster percentage growth but more volatility.
CRWV holds the edge across 4 of 5 key metrics in this comparison. CRWV leads on both 1-year return (-49.95%) and forward P/E quality (-41.73x vs -149.43x for IREN), a relatively favorable combination of momentum and valuation. CRWV leads on both revenue growth (112.50%) and operating margin (-1.90%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for IREN (+96.58%) than for CRWV (+77.53%).
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
- Want exposure to the largest, most established dedicated AI cloud provider
- Are comfortable with high leverage tied to data center expansion
- Believe contracted AI backlogs will keep converting into revenue
- Prefer a pure AI infrastructure story without crypto exposure
- Want exposure to a fast-growing bitcoin-to-AI infrastructure pivot
- Are comfortable with residual bitcoin mining volatility
- Believe the company's power and site advantages will keep attracting AI hosting deals
- Accept higher earnings volatility for potentially higher percentage upside
| Metric | CRWV | IREN |
|---|---|---|
| AI scorei | 43.5 | 27.3 |
| AI ranki | #692 | #2286 |
| Latest closei | $69.69 | $30.39 |
| 1M returni | -13.88% | -26.91% |
| 3M returni | -4.42% | -12.75% |
| 6M returni | -41.71% | -36.29% |
| 1Y returni | -49.95% | -55.30% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | CRWV | IREN |
|---|---|---|
| 1Y ago | $5.01K (-49.9%) started 2025-10-15 | $4.47K (-55.3%) started 2025-10-15 |
| 5Y ago | $17.42K (+74.2%) started 2025-03-28 | $12.43K (+24.3%) started 2021-11-17 |
| 10Y ago | $17.42K (+74.2%) started 2025-03-28 | $12.43K (+24.3%) started 2021-11-17 |
Hypothetical — past performance does not guarantee future results.
| Metric | CRWV | IREN |
|---|---|---|
| Market capi | $44.87B | $15.6B |
| Trailing P/Ei | N/A | N/A |
| Forward P/Ei | -41.73 | -149.43 |
| Price/Salesi | N/A | N/A |
| EV/Revenuei | 11.98 | 24.82 |
| Analyst targeti | $144.44 | $77.84 |
| Target upsidei | +77.53% | +96.58% |
| Metric | CRWV | IREN |
|---|---|---|
| Revenue growthi | 112.50% | -26.70% |
| Earnings growthi | N/A | N/A |
| EPS growthi | N/A | N/A |
| FCF margini | -119.74% | -596.78% |
| Operating margini | -1.90% | -102.47% |
| Profit margini | -25.40% | -99.38% |
| ROIC proxyi | -43.60% | -23.41% |
| Return on equityi | -43.60% | -23.41% |
| Dividend yieldi | N/A | N/A |
| Payout ratioi | N/A | 0.00% |
| Dividend growth streaki | N/A | N/A |
| Betai | N/A | 4.30 |
| Debt/equityi | 1027.33 | 187.30 |
| Current ratioi | 0.46 | 3.55 |
| Quick ratioi | 0.39 | 2.66 |
Over the past year, CRWV and IREN have moved moderately in the same direction (correlation of 0.63), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | CRWV | IREN |
|---|---|---|---|
| 1Y | Growthi | -49.95% | -55.30% |
| CAGRi | -49.97% | -55.32% | |
| Volatilityi | 95.47% | 106.80% | |
| Sharpe ratioi | -0.30 | -0.27 | |
| Sortino ratioi | -0.46 | -0.41 | |
| Max drawdowni | 57.09% | 61.64% | |
| Current drawdowni | 50.83% | 60.23% | |
| Avg drawdowni | 34.27% | 38.50% | |
| Ulcer Indexi | 36.33% | 40.53% | |
| Max daily dropi | 18.51% | 17.37% | |
| Max wkly dropi | 28.67% | 33.51% | |
| 5Y | Growthi | +74.23% | +24.29% |
| CAGRi | +43.08% | +4.53% | |
| Volatilityi | 110.85% | 117.53% | |
| Sharpe ratioi | 0.82 | 0.57 | |
| Sortino ratioi | 1.36 | 0.92 | |
| Max drawdowni | 66.87% | 95.73% | |
| Current drawdowni | 62.04% | 60.23% | |
| Avg drawdowni | 40.54% | 61.28% | |
| Ulcer Indexi | 43.84% | 65.66% | |
| Max daily dropi | 20.83% | 36.45% | |
| Max wkly dropi | 37.55% | 42.49% | |
| 10Y | Growthi | +74.23% | +24.29% |
| CAGRi | +43.08% | +4.53% | |
| Volatilityi | 110.85% | 117.53% | |
| Sharpe ratioi | 0.82 | 0.57 | |
| Sortino ratioi | 1.36 | 0.92 | |
| Max drawdowni | 66.87% | 95.73% | |
| Current drawdowni | 62.04% | 60.23% | |
| Avg drawdowni | 40.54% | 61.28% | |
| Ulcer Indexi | 43.84% | 65.66% | |
| Max daily dropi | 20.83% | 36.45% | |
| Max wkly dropi | 37.55% | 42.49% |
| Category | CRWV | IREN |
|---|---|---|
| Company | CoreWeave | IREN Limited |
| Sector | Technology | Financial Services |
| Industry | Software - Infrastructure | Capital Markets |
| Core business | CoreWeave operates GPU-focused cloud infrastructure and data centers that provide compute capacity for AI training and inference workloads. | IREN operates data centers originally built for bitcoin mining that it is rapidly converting into AI cloud compute capacity, while continuing to run a bitcoin mining segment. |
| Investor focus | Investors focus on CoreWeave's contracted revenue backlog, capital spending intensity, debt load, and reliance on Nvidia hardware allocation. | Investors track how quickly IREN converts mining capacity to AI cloud contracts, its growing customer roster of AI labs and hyperscalers, and remaining bitcoin mining exposure and its associated volatility. |
- Massive, multi-year contracted AI compute backlog
- Deep strategic and equity relationship with Nvidia
- Established scale as one of the largest dedicated AI cloud providers
- Access to substantial low-cost power and existing data center infrastructure
- Rapidly growing AI cloud contract bookings with recognizable customers
- Optionality between bitcoin mining and AI hosting depending on returns
- High leverage tied to aggressive data center expansion
- Revenue concentration among a small number of AI lab customers
- Valuation sensitive to any pullback in AI infrastructure spending
- Residual bitcoin mining exposure adds crypto-price-driven volatility
- History of large impairments during its AI infrastructure transition
- Execution risk in converting mining sites to AI-grade data centers on schedule
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