This Nvidia-Backed Artificial Intelligence (AI) Infrastructure Stock Has Multibagger Potential. It Is Trading at an Incredibly Attractive Valuation Right Now

Here are five key points summarizing the article you provided about CoreWeave:

Investment by Nvidia: In January of this year, Nvidia invested $2 billion in CoreWeave to help the neocloud infrastructure provider build AI factories powered by its chips.
Massive Backlog: CoreWeave has a significant revenue backlog of $99.4 billion, which grew at a rate of 284% year over year in Q1, owing to massive contracts from AI companies and hyperscalers like Meta Platforms and Microsoft.
Diversifying Client Base: CoreWeave’s clientele for AI data centers is not limited to tech giants; it includes companies like OpenAI, Anthropic, and financial services firms such as Jane Street and Hudson River Trading.
Growth Prospects: CoreWeave’s active data center power capacity exceeded 1 GW in Q1 and it aims to build 8 GW by the end of the decade. This could drive substantial revenue growth, especially as its estimated bottom line increases with the conversion of backlog into actual revenue.
Valuation and Future Potential: Despite debt and capital-intensive expansions, CoreWeave’s stock has appreciated since its investment by Nvidia. Trading at just under 8 times sales, it presents potential multibagger growth due to its strong growth metrics and the booming demand for AI data centers in the future.