CoreWeave Stock Surges After Q2 Earnings Beat Expectations

CoreWeave, a provider of cloud infrastructure for artificial intelligence workloads, reported second-quarter financial results on Tuesday, August 11, 2026, that exceeded Wall Street expectations, sending its stock price sharply higher in after-hours trading. The company announced revenue of $2.58 billion, a 112% increase from the same period last year, and a loss per share of $1.14, which was better than the anticipated loss of $1.41.

The strong performance was highlighted by a massive growth in the company's contracted backlog, which reached $130 billion, up from $99 billion at the end of the first quarter. This figure does not include an additional $25 billion in commitments secured in early Q3, which would bring the total closer to $155 billion. The backlog consists largely of AI cloud contracts with major technology companies including Microsoft, Meta, and OpenAI.

Following the earnings release, CoreWeave's stock (CRWV) surged more than 15% in after-hours trading, rising from its regular session close of $90.32 to approximately $103.98. The company also reported adjusted operating income of $128 million, nearly double the consensus estimate of $66 million. Adjusted EBITDA...