CoreWeave revenue doubles to $2.58 billion

• CoreWeave reported Q2 2026 revenue of $2.58 billion, more than doubling year over year, while revenue backlog reached approximately $104 billion.
• Adjusted EBITDA reached $1.51 billion, while GAAP net loss widened to approximately $626 million and adjusted net loss reached about $567 million.
• CoreWeave continues expanding AI infrastructure through new financing, customer commitments and cross-cloud services, including CoreWeave Interconnect with Google Cloud.

CoreWeave (NASDAQ:CRWV) reported second-quarter 2026 revenue of $2.58 billion, more than doubling year over year, while revenue backlog reached approximately $104 billion.

Revenue increased from about $1.21 billion in Q2 2025 and came near Wall Street expectations of roughly $2.6 billion for the quarter.

Adjusted EBITDA reached $1.51 billion, while GAAP net loss widened to approximately $626 million as infrastructure expansion and financing costs continued to weigh on profitability.

During the period under review, CoreWeave strengthened its financing position through new capital arrangements, including a $1 billion Jane Street equity investment and additional infrastructure-backed borrowing.

CoreWeave entered Q2 with $99.4 billion of backlog after signing more than $40 billion of new Q1 customer commitments, including agreements with Meta, Anthropic and Jane Street.

The company is also expanding cross-cloud services through CoreWeave Interconnect with Google Cloud, which directly links the two cloud platforms through a private high-performance network.