CoreWeave rides AI cloud demand surge to $2.6B quarterly revenue, $104B backlog

CoreWeave reported Q2 2026 revenue of $2.575B with a net loss of $626M but adjusted EBITDA of $1.51B and adjusted operating income of $128M, as demand for its AI-focused cloud accelerates. Revenue backlog stood at about $104B as of June 30, 2026, with major enterprise and AI-lab wins and rapid infrastructure expansion (roughly 1.5 GW active power and ~3.7 GW contracted). The company also announced financing and partnerships (a $3.1B term loan, a $1B investment from Jane Street) and was selected for the Nasdaq-100, with forward guidance to be provided on the earnings call.