CoreWeave raises 2026 revenue and profit targets, plans $35-$39B investment
Business
CoreWeave just raised its revenue and adjusted profit goals for 2026 after a standout quarter, thanks to booming demand for AI-powered cloud services.
The company also bumped up its annual spending plans, now expecting to invest $35 billion to $39 billion to keep up with rapid growth.
CoreWeave backlog tops $100B
CoreWeave's revenue backlog has shot past $100 billion, with second-quarter revenue more than doubling to $2.58 billion, beating expectations.
Its close partnership with NVIDIA is paying off, bringing in big-name clients like Meta and Anthropic.
CEO Michael Intrator credits the company's momentum to strong demand and smart operations, as losses per share narrowed more than analysts predicted.