CoreWeave, Inc. (CRWV) announced record revenue of $2.6 billion for Q2 2026, marking a 112% increase year-over-year, and a revenue backlog of $104.2 billion. The company added over $25 billion in new customer commitments in early Q3 and has contracted more than 1 gigawatt of power outside the U.S., including 360 megawatts in Indonesia, set to come online in 18 months. CoreWeave is on track to reach at least 8 gigawatts of active power capacity by 2030.
The firm raised its full-year 2026 revenue guidance to between $12.4 billion and $13.2 billion, with expectations of an annualized run-rate revenue reaching $18.5 billion to $19.5 billion by year-end. CoreWeave’s expansion into managed services generated over $400 million in annualized recurring revenue in Q2, with projections for managed inference ARR to exceed $250 million by the end of 2026.
As of now, shares of CoreWeave have decreased by 18.9% over the past three months, while trade valuations show a Price/Book ratio of 8.49, significantly higher than the industry average of 5.07.
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