CoreWeave reported second-quarter 2026 revenue of approximately $2.58 billion, surpassing analyst expectations of $2.56 billion [1, 2, 3, 4]. The neocloud provider, specializing in AI workloads and closely partnering with Nvidia, also posted an adjusted per-share loss of $1.03, better than the expected $1.20 loss per share [1, 2, 3, 4]. Some sources noted a slightly higher adjusted loss of $1.14 per share, but most confirm the $1.03 figure [4, 1, 2, 3].

The company’s Q2 net loss was $626 million, amid aggressive capital spending [4]. CoreWeave’s EBITDA roughly doubled year-over-year to about $1.51 billion, with margins dipping slightly to 59% [4]. CEO Michael Intrator said the quarter marked "an important inflection point where our scale begins to translate into steadily improving operating leverage effects" [1]. He added, "We outperformed our plan across the board, with the operating leverage we have been building beginning to show up clearly in our results" [2].

CoreWeave’s revenue backlog reached about $104 billion at June 30, up from $99.4 billion at the end of the first quarter, supported by strong new commitments [1, 2, 3, 4]. The company secured more than $25 billion in new customer agreements in the third quarter so far, not yet included in that backlog total [1, 2, 3, 4]. Analyst Andrew Rocco of Zacks Investment Research commented, "The massive contracted backlog guarantees rare multi-year revenue visibility... This quarter feels like a pivotal one for CoreWeave" [2].

The firm expanded rapidly, adding eight new data centers in Q2, bringing its total to 51 across the globe [1, 3]. Capital expenditures surged to $9.4 billion in the quarter, up from $6.8 billion in Q1 and just $2.9 billion the previous year, reflecting heavy investment in infrastructure [1, 3, 4]. Due to rising demand and component costs, CoreWeave raised prices by about 25% in July across various products [4].

CoreWeave’s key customers include Meta, Anthropic, Microsoft, and Caterpillar [1, 2, 3]. With near-term capacity effectively sold out, Intrator said CoreWeave is "securing compute agreements on increasingly favourable terms" [2]. The company raised its 2026 capital expenditure forecast to $35 billion–$39 billion, up from prior guidance of $31 billion–$35 billion [2, 4].

CoreWeave announced these results and spending increases on August 11, 2026 [2, 3, 4].