CoreWeave (CRWV) Q2 earnings report 2026

Key Points:

• CoreWeave's shares rose 12% in extended trading after reporting better-than-expected revenue of $2.58 billion, surpassing the $2.56 billion consensus, despite an adjusted loss per share of $1.03 versus the expected loss of $1.20.
• The company's revenue grew 112% year-over-year, but its net loss widened to $626 million from $290 million a year earlier, reflecting ongoing heavy investments in AI infrastructure.
• CoreWeave's revenue backlog reached $104 billion, supported by major contracts including a $21 billion deal with Meta, a multi-year agreement with Anthropic, and a $6 billion commitment from Jane Street.
• The company faces increasing competition from established cloud providers like Amazon, Google, and Microsoft, as well as new entrants such as SpaceX and Meta's potential cloud business.
• CoreWeave, which went public in March 2025, carries $35 billion in debt mainly due to investments in Nvidia GPUs and other equipment, and its shares have gained 26% year-to-date compared to a 13% rise in the S&P 500.