### @CRWV — Confirmed — from the 10-K
Look, one at a time: Microsoft was roughly 67% of FY2025 revenue, and no other customer exceeded 10%, a concentration disclosed in the 10‑K yet Microsoft got zero mentions on the Q1 2026 call, right? Committed contracts cover over 98% of revenue, so most income is backlog converting. Diversification is early — we signed an OpenAI MSA in May 2025 and named Meta as another significant customer, but FY2025 was still overwhelmingly Microsoft, and the biggest renters — Amazon, Google, Microsoft, Oracle — double as rivals, you know?
- tier: Confirmed (✓)
- source: CRWV / One customer, about two-thirds of revenue
- receipt: https://ticker.thevixguy.com/p/p-day-20260805-crwv-src-crwv-customer-concentration-rotation
- posted: 2026-08-05T09:00:55.110Z