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CNBC
CoreWeave surges 18% in premarket after a 'cleaner quarter'. Here's what's happening
CoreWeave has experienced a significant uptick in its stock price following a strong performance in Q2, where it reported a 112% increase in revenue, reaching $2.6 billion. This growth was fueled by rising demand from hyperscalers for AI computing capacity. The company anticipates revenue growth to continue, projecting $3.4 billion to $3.6 billion for Q3. Despite operational losses, CoreWeave's revenue backlog and commitments from major customers highlight its potential in the rapidly expanding AI cloud market.
Act nowConfidence: HighShort term horizon
Published 12 Aug 2026, 10:55 UTC3 min read
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Summary
TL;DR
- CoreWeave reported Q2 revenue of $2.6 billion, doubling year-over-year.
- The company's Q2 revenue guidance for Q3 is between $3.4 billion and $3.6 billion.
- Customer commitments include $25 billion in new business for the third quarter.
- CoreWeave has deepened partnerships with major firms such as Meta and Jane Street.
- The revenue backlog stands at $104 billion as of June 30.
Interesting facts
- CoreWeave's operational expenses are currently exceeding its revenue.
- Despite the financial challenges, CoreWeave's CEO noted a positive inflection point in the company's growth trajectory.