Can Investing $10,000 in CoreWeave Stock Make You a Millionaire?

Key Points

• CoreWeave possesses several ingredients that have helped other stocks be millionaire-makers.

• However, a few obstacles could make it difficult for CoreWeave to turn $10,000 into $1 million.

• 10 stocks we like better than CoreWeave ›

You might catch a whiff of the "new car smell" with CoreWeave (NASDAQ: CRWV). The cloud platform provider conducted its initial public offering (IPO) barely six months ago. That IPO, by the way, was the biggest for a tech company since 2021.

Some early CoreWeave investors have enjoyed nice returns already. The stock is up nearly 120% since its IPO in late March. But could the future hold even greater money-making opportunities? Can a $10,000 investment in CoreWeave make you a millionaire?

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »

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Several millionaire-maker ingredients

CoreWeave appears to have several ingredients that other millionaire-maker stocks possess. Perhaps the most important one is that the company is targeting a hot market -- data centers that host artificial intelligence (AI) applications -- with tremendous growth prospects.

Top consulting firm McKinsey projects that global data center capacity could increase by a compound annual growth rate of 22% through 2030. CoreWeave isn't the only player in this market, of course. However, it enjoys a first-mover advantage in focusing exclusively on AI hyperscaling.

Another key ingredient for millionaire-maker stocks is exceptionally strong revenue growth. CoreWeave definitely checks off this box. The company's revenue skyrocketed 207% year over year in its latest quarter.

Like previous enormously successful companies, CoreWeave is doing all it can to capitalize on its growth opportunities. Co-founder and CEO Michael Intrator said in the company's second-quarter update, "We are scaling rapidly as we look to meet the unprecedented demand for AI."

The biggest long-term winners also often have huge partners. Again, CoreWeave fits the bill. For example, Nvidia has investments in only six other publicly traded companies; CoreWeave is one of them. It has also teamed up with IBM to train the technology pioneer's Granite AI models on Nvidia-powered supercomputers.

A few flies in the ointment

There are a few flies in the ointment that could prevent CoreWeave from becoming a millionaire-maker stock, though. One biggie is that competition is likely to increase significantly.

CoreWeave competes against some of the biggest cloud service providers, including Amazon (NASDAQ: AMZN) Web Services (AWS), Microsoft (NASDAQ: MSFT) Azure, and Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Cloud. These companies' financial strength could allow them to make the investments needed to partially erase CoreWeave's first-mover advantage in AI hyperscaling.

Notably, CoreWeave isn't profitable yet despite its rapid revenue growth. The company could find it difficult to keep pace with greater capital spending by its rival tech giants. But without investing in more infrastructure to meet customer demand, CoreWeave won't be able to keep its growth rate up.

Wall Street projects slowing (albeit still impressive) revenue growth for CoreWeave next year. If a trend of decelerating revenue growth continues, it will be much harder for an initial investment of $10,000 in CoreWeave to grow to $1 million.

What about valuation? CoreWeave's price-to-sales ratio is 12.4, well above the internet services and infrastructure industry average of 8.1. However, the company's sales growth makes this seemingly steep premium less concerning.

Steep odds

Can an investment of $10,000 in CoreWeave make you a millionaire? It's possible, but the odds are stacked decidedly against it happening. To turn $10,000 into $1 million, CoreWeave's share price would need to increase by 100x. Few stocks can achieve such a feat, even over a lengthy period.

Perhaps the best way for CoreWeave to be a millionaire-maker is for you to start with a higher initial investment. For example, buying $200,000 of the stock would make the path to $1 million a much easier climb.

Of course, you don't have to become a millionaire from investing in CoreWeave for the stock to still make you a lot of money. I think the chances of this scenario occurring over the long run are much better.

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Keith Speights has positions in Alphabet, Amazon, and Microsoft. The Motley Fool has positions in and recommends Alphabet, Amazon, International Business Machines, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.