Results
CoreWeave Reports Strong Second Quarter 2026 Results
Record Second Quarter Revenue and Revenue Backlog Highlight Unprecedented Demand for CoreWeave Cloud
Management commentary
"CoreWeave reached an important inflection point this quarter as our scale began to translate into expanding operating leverage.
Customer demand is accelerating, as enterprise adoption broadens and we continue to deepen our technology platform," said Michael Intrator, co-founder, chairman, and chief executive officer of CoreWeave.
"CoreWeave is built on the conviction that AI is foundational to every industry and that realizing its full potential requires a purpose-built platform.
This quarter reinforced that conviction."
Results
Second Quarter 2026 Financial Highlights
Additional Second Quarter 2026 Financial Highlights
8Revenue backlog 1 was approximately $104 billion as of June 30, 2026.
Second Quarter 2026 Highlights
Management commentary
Customer Wins across AI Labs, Hyperscalers, and Enterprises
Partner of choice for leading enterprises and AI pioneers, including Bentley Systems, Caterpillar, Grammarly, Isomorphic Labs, and Sunday Robotics
Expanded relationships with existing enterprise and AI native customers including Cognition, Databricks, Hudson River Trading, Periodic Labs, Rescale, and Runway ML
Continued Rapid Scaling of Purpose-Built AI Infrastructure
Results
2Expanded active power by nearly 500 MWs to reach 1.5 GW
1Grew total contracted power to approximately 3.7 GW while further diversifying portfolio of providers and expanding powered land footprint
Corporate events
Key Technology Leadership Milestones
4Successfully completed industry's first bring-up and validation of NVIDIA Vera Rubin NVL72
Launched new capabilities to make it easy for enterprises to run AI workloads cross-cloud, allowing customers to balance performance, reliability, and cost across their AI cloud footprint through:
CoreWeave Interconnect: offering private, high-performance fiber linking directly to other hyperscale platforms, beginning with Google Cloud
SUNK Anywhere: enabling AI research and platform teams to leverage CoreWeave's leading SUNK platform across their AI cloud portfolio
LOTA (Local Object Transport Accelerator) Cross-Cloud: providing near-local data access across clouds, backed by CoreWeave's Zero Egress Migration program
Launched unified agentic AI capabilities that connect training, inference, observability, and reinforcement learning to empower agents to continuously learn and improve in production, including:
CoreWeave ARIA (AI Research and Iteration Agent) that reads experiment data, uncovers hidden insights, and drives continuous model and agent improvement
CoreWeave Sandboxes, the execution layer that gives AI researchers and platform teams secure, isolated environments for running reinforcement learning, agent tool use, and model evaluation
Results
3Set new MLPerf records for training and inference with open-source models running on the NVIDIA Grace Blackwell platform, achieving the lowest cost per token for inference in test runs
Management commentary
Strengthening Financial Position
Corporate events
6Milestone $3.1 billion term loan, the first ever publicly syndicated delayed draw facility backed by HPC infrastructure
7$1 billion strategic investment from Jane Street following the expansion of commercial relationship in Q1 2026
5Raised more than $10 billion of unsecured debt and convertible bonds, including CoreWeave's inaugural Eurobond issuance
Other Noteworthy Updates
Selected for inclusion in the Nasdaq-100 Index, as one of the 100 largest non-financial companies listed on the Nasdaq Stock Market
Outlook
Business Outlook
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