United States · Business news · AI & Tech · 11 Aug 2026
AI: Cloud and data centres · Funding and deals · CoreWeave — more AI news
CoreWeave reported second-quarter revenue of $2,575 million, up from $1,212 million a year earlier, and a net loss of $626 million against $290 million. Its revenue backlog was approximately $104 billion at June 30, before more than $25 billion of net new customer commitments added early in the third quarter. Purchases of property and equipment were $6,422 million in the quarter. Active power reached 1.5 GW and contracted power about 3.7 GW. The company raised more than $10 billion of unsecured debt and convertible bonds, a $3.1 billion term loan and a $1 billion investment from Jane Street.
CoreWeave rents Nvidia-based computing to AI developers, and its accounts show the financing behind that model: $6,422 million of equipment purchases in a quarter that produced $2,575 million of revenue and a $626 million loss, funded by more than $10 billion of new debt and convertibles plus a $3.1 billion term loan. The $104 billion backlog is what customers have contracted to pay over time; lenders and bondholders are relying on it being collected.
Reported by CoreWeave — “CoreWeave Reports Strong Second Quarter 2026 Results” ↗ on 11 Aug 2026.
Official series on 11 Aug 2026 or the last day before it, and the latest observation.
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