CRWV CEO Michael Intrator Sees Nearly $10 Billion Revenue Opportunity From Older Nvidia GPUs — Without Spending Another Dollar

CoreWeave Inc. (NASDAQ:CRWV) CEO Michael Intrator said the company could generate nearly $10 billion in additional annualized revenue by renewing contracts for older Nvidia Corp. (NASDAQ:NVDA) graphics processing units (GPUs), without additional hardware capital expenditure.

Older Nvidia GPUs Command Higher Prices

Speaking during CoreWeave’s third-quarter earnings call on Tuesday, Intrator said more than 300,000 GPUs would become available for new contracts through 2028, creating a substantial revenue opportunity as demand for artificial intelligence computing capacity remains strong.

Intrator revealed that rental prices for Nvidia’s older Ampere and Hopper GPUs climbed 30% to 50% during the third quarter, surpassing their original contract rates despite the availability of newer chips.

The development reinforces CoreWeave’s earlier argument that older Nvidia GPUs could remain commercially valuable, following an August disclosure that an A100 contract extended through 2029.

Intrator said CoreWeave was signing multiyear agreements exceeding the depreciation periods of the chips, potentially improving profitability as depreciation expenses disappear while customers keep paying for computing capacity.

Nearly $10 Billion Revenue Opportunity Through 2028

"More than 130,000 GPUs come off contract in 2027, as do another approximately 170,000 GPUs in 2028," Intrator said. "At current pricing levels, 2027 renewals would generate approaching $4 billion of incremental annualized revenue, with no additional CapEx required," he added.

"This grows to nearly $10 billion of annualized incremental revenue when including 2028 renewals."

Chief Financial Officer Nitin Agrawal clarified that these potential renewals remain outside the company’s existing contracted revenue backlog.

The opportunity also highlights the importance of CoreWeave’s GPU-backed financing model, which allows the company to recover hardware costs through initial customer agreements.

CoreWeave Raises Revenue Outlook Despite Heavy Spending

CoreWeave reported third-quarter revenue of $3.66 billion, up 168% year-over-year, and raised its 2026 revenue forecast to $13 billion-$13.3 billion.

However, Reuters reported on Tuesday that the company carried $46.9 billion in debt and expected annual capital expenditures of $37 billion-$39 billion, highlighting the financial importance of extracting more revenue from existing infrastructure.

Price Action: CRWV shares were trading 11.37% higher at $54.27 in after-hours trading on Tuesday, according to Benzinga Pro data.

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