CRWV Stock Rallies 13% After-Hours — AI Compute Demand Has Pushed CoreWeave Revenue To More Than Double

CoreWeave beat second-quarter top- and bottom-line expectations as soaring artificial intelligence computing demand pushed quarterly revenue up 112% to $2.58 billion and prompted the company to raise its full-year guidance.

• Revenue surged 112% year-over-year to $2.58 billion, topping estimates, while adjusted loss per share narrowed to $1.03. 
• CoreWeave raised its full-year 2026 revenue forecast to between $12.4 billion and $13.2 billion, backed by an order backlog exceeding $104 billion. 
• The firm secured major multi-billion-dollar deals with Meta, Anthropic, and Jane Street.

CoreWeave Inc. (CRWV) reported second-quarter financial results that beat Wall Street estimates on both revenue and earnings, driven by relentless enterprise demand for artificial intelligence computing power.

The Roseland, New Jersey-based cloud operator reported revenue of $2.58 billion for the quarter ending June 30, up 112% from the prior-year period and exceeding analyst forecasts of $2.56 billion. CoreWeave reported an adjusted loss per share of $1.03, outperforming consensus expectations for a loss of $1.20 per share. 

Shares of CoreWeave surged more than 13% in extended trading following the release. The stock had already gained 26% year-to-date through Tuesday's close, significantly outstripping broader market benchmarks.

As one of the few publicly traded specialized "neocloud" providers, CoreWeave serves as a primary barometer for global AI buildouts. Wall Street monitors the company’s performance closely to gauge broader enterprise capital allocation toward hardware and cloud infrastructure.

However, it still competes with traditional hyperscalers and cloud providers like Microsoft (MSFT), Amazon (AMZN), and Alphabet (GOOG, GOOGL), as well as newer entrants like SpaceX (SPCX).

CoreWeave Raises 2026 Revenue Guidance

Reflecting accelerating commercial demand, CoreWeave raised its full-year 2026 guidance. The company expects revenue between $12.4 billion and $13.2 billion, up from its May projection of $12 billion to $13 billion. Analysts polled by Fiscal.ai were looking for $12.63 billion on average. 

For the third quarter, management projects sales ranging from $3.4 billion to $3.6 billion, representing a 158% year-over-year surge at the midpoint.

Simultaneously, CoreWeave raised its 2026 capital expenditure target to a range of $35 billion to $39 billion, compared to its previous expectation of $31 billion to $35 billion. The increased capital deployment aims to scale active power capacity beyond 1.85 gigawatts by year-end, up from 1.5 gigawatts at the end of the second quarter.

CRWV Order Backlog Expands

The firm closed the quarter with a revenue backlog of $104 billion on the back of major commercial deals, including an additional $21-billion commitment from Meta Platforms Inc. (META), a multi-year agreement with Anthropic, and a $6-billion commitment from quantitative trading firm Jane Street.

CRWV Stock: Retail View 

Retail sentiment on Stocktwits was ‘extremely bullish’ with ‘high’ message volumes. 

CRWV stock has gained 23% year-to-date. 

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