CoreWeave Q2 Revenue Surges 112% With $104B Backlog

CoreWeave reported Q2 revenue of $2.575B, beating estimates by $150M. Backlog grew to $104B, driving a 16% after-hours stock surge.

Woofun AI reports that CoreWeave disclosed second-quarter revenue of $2.575 billion, representing a 112% year-on-year increase and exceeding the consensus estimate of $2.56 billion. The company's backlog orders expanded to approximately $104 billion, up from $99.4 billion at the end of the first quarter. CEO commentary indicated that profit margins on contracts signed during Q2 were projected to be 5–10 percentage points higher than those of new agreements in prior quarters. Following the release, CoreWeave shares gained 2.42% during regular trading, with after-hours prices jumping more than 16%.