CoreWeave, Inc. (CRWV) reported a revenue of $2.6 billion for Q2 2026, marking a 112% increase year-over-year. The company’s revenue backlog grew to $104.2 billion, up from $99.4 billion in the previous quarter. Additionally, CoreWeave secured over $25 billion in new customer commitments in early Q3 2026, emphasizing strong demand for AI computing capacity.
Management raised revenue projections for 2026 from an earlier estimate of $12-$13 billion to between $12.4 billion and $13.2 billion, with adjusted operating income expectations now at $960 million to $1.15 billion. The company additionally increased its capital expenditure forecast for 2026 to between $35 billion and $39 billion, significantly impacting operational costs.
Despite a substantial share price increase of 26.2% year-to-date, CRWV faces challenges, including a $567 million adjusted net loss and rising interest expenses estimated between $860 million and $940 million. The company operates under significant capital intensity and risk, given its reliance on major customer deployments and competition in the AI infrastructure market.
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