Quarterly ResultAug 11, 2026, 04:19 PM
CoreWeave Q2 Revenue $2.575B, +112% YoY; Backlog $104B
AI Summary
CoreWeave reported strong second-quarter 2026 financial results, with revenue more than doubling to $2.575 billion, driven by unprecedented demand for its AI cloud services. Despite a net loss of $626 million, the company achieved a significant Adjusted EBITDA of $1.510 billion. CoreWeave highlighted record revenue backlog of $104 billion, substantial infrastructure expansion, and key technology leadership milestones, including the successful validation of NVIDIA Vera Rubin NVL72 and new cross-cloud capabilities. The company also strengthened its financial position with a $3.1 billion term loan and a $1 billion strategic investment, and was included in the Nasdaq-100 Index.
Key Highlights
- Q2 2026 Revenue increased 112% YoY to $2.575 billion.
- Q2 2026 Net Loss was $626 million, compared to $290 million in Q2 2025.
- Q2 2026 Adjusted EBITDA was $1.510 billion, up from $753 million in Q2 2025.
- Revenue backlog reached approximately $104 billion as of June 30, 2026.
- Added over $25 billion in net new customer commitments in early Q3.
- Expanded active power by nearly 500 MWs to 1.5 GW; total contracted power to 3.7 GW.
- Secured a $3.1 billion term loan and a $1 billion strategic investment from Jane Street.
- Selected for inclusion in the Nasdaq-100 Index.
Price Impact
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