Key facts
- CoreWeave's second-quarter revenue more than doubled to $2.58 billion.
- The company reported a net loss of $626 million for the quarter.
- CoreWeave raised its full-year revenue outlook and 2026 guidance.
- The company has a $104 billion contracted business backlog.
- New deals signed by CoreWeave reflect higher margins due to scarce capacity.
CoreWeave shares surged 16% after the AI infrastructure provider reported second-quarter revenue that more than doubled to $2.58 billion, narrowly beating expectations. The company also announced a smaller-than-projected net loss of $626 million and raised its full-year outlook. CoreWeave forecast third-quarter sales between $3.45 billion and $3.6 billion and increased its 2026 revenue guidance to between $12.4 billion and $13.2 billion. The company ended the quarter with $104 billion in contracted business, with recently signed deals carrying higher margins due to scarce capacity. The strong performance in AI infrastructure contrasted with the struggles of the broader crypto market, with Bitcoin trading below $64,000.