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Jim Cramer Expresses Preference for CoreWeave (CRWV) Over IREN (IREN) for AI Cloud, Citing CoreWeave's Larger Revenue and Backlog
During the September 3 lightning round of Mad Money, Jim Cramer stated his preference for CoreWeave (CRWV) over IREN (IREN) for AI cloud services, deeming others too speculative. CoreWeave reported Q2 revenue of $2.575 billion, up 112% year-over-year, with a backlog of approximately $104 billion as of June 30. The company also raised its 2026 CapEx forecast to $35 billion-$39 billion. Meanwhile, IREN's AI Cloud Services revenue reached $128.8 million in fiscal 2026, with total fiscal 2026 revenue at $707 million, including $578.2 million from Bitcoin mining. IREN is guiding to approximately $25 billion-$30 billion in fiscal 2027 capital expenditures.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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