On October 24, 2026, reports highlighted SpaceX’s growing presence as a significant competitor to CoreWeave in AI cloud infrastructure. CoreWeave’s stock is already under pressure from investor concerns about debt, financing for future expansion and high interest expenses.
SpaceX is rapidly scaling its neocloud business and may already generate more revenue from it than CoreWeave. The companies are also competing to secure next-generation NVIDIA processors. NVIDIA is a key investor in CoreWeave but holds a larger position in SpaceX, potentially complicating CoreWeave’s access to essential hardware as competition intensifies.