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CoreWeave shares jump 16% after $2.58B AI revenue quarter

The AI infrastructure provider also raised full year guidance for 2026 revenue to $12.4B to $13.2B and reported a $104B contracted backlog.

Reported · Written up by our desk · Market Structure

CoreWeave shares surged about 16% in pre market trading after the company reported second quarter revenue that more than doubled to $2.58 billion, narrowly beating expectations, and said it raised its full year outlook. The company also said its net loss of $626 million was smaller than analysts had projected, according to CoinDesk.

CoreWeave forecast third quarter sales of $3.45 billion to $3.6 billion, and increased its 2026 revenue guidance to between $12.4 billion and $13.2 billion. The firm ended the quarter with $104 billion in contracted business and added more than $25 billion of customer commitments after the period closed.

CoinDesk also reported that IREN and Cipher Digital rose around 5%, reflecting investor preference for AI data center exposure as opposed to broader crypto. CoreWeave said recently signed deals are expected to carry margins 5 to 10 percentage points above recent levels, tied to scarce capacity and favorable pricing.

The results highlight what CoinDesk described as a widening divide in market attention, with AI infrastructure attracting capital and premium valuations while bitcoin and the wider crypto trade struggle to match the momentum. CoinDesk noted bitcoin was trading below $64,000 at the time of the update.

Latest closeBitcoin $64,170.00 ▲1.0%

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