CoreWeave’s $2.6 billion quarterly revenue and $104 billion backlog signal sustained AI infrastructure spending on Nvidia hardware.
CoreWeave reported second-quarter revenue of $2.6 billion, a 112.5% year-over-year increase, driven by demand for AI-focused cloud computing services. The company’s GPU-heavy data centers rely on Nvidia hardware, reinforcing bullish sentiment for NVDA.
The company’s revenue backlog reached $104 billion, up 245.5% from the prior-year quarter. While operating and net losses widened, CoreWeave attributed this to expansion costs, suggesting continued investment in capacity.
The results underscore robust demand for AI infrastructure, countering concerns of a near-term slowdown in Nvidia’s growth trajectory.