CoreWeave Reports 112% Revenue Growth in Second Quarter

AI cloud services provider CoreWeave reported second-quarter revenue of $2.575 billion, an increase of 112.46% compared to the same period last year. For the first half of fiscal year 2026, total revenue reached $4.653 billion, up 112.08%.

The company is aggressively expanding its data center capacity to accommodate the surge in demand for AI computation. Active compute capacity has grown by nearly 500 MW to 1.5 GW, with total contracted power reaching approximately 3.7 GW.

CoreWeave experienced a net loss of $626 million in the second quarter, an increase of 115.86% from the prior year. The net loss for the first half of the fiscal year was $1.366 billion. However, operating cash flow remained positive for both periods.

The company has secured substantial financing, including a $1 billion investment from Jane Street. CoreWeave's order backlog is valued at $104 billion as of June 30, 2026, with an additional $25 billion in new customer commitments.