CoreWeave reported a $104 billion backlog and forecast year-end active power above 1.85 gigawatts, with 2026 capital expenditure of $35–39 billion.

CoreWeave reported second-quarter revenue of $2.58 billion, up 112% year over year and above the cited $2.56 billion analyst estimate. It recorded a $626 million net loss, compared with $290 million a year earlier, while adjusted earnings before interest, taxes, depreciation and amortization were $1.51 billion.

Contract backlog was approximately $104 billion as of June 30, and CoreWeave said it added more than $25 billion of customer commitments after quarter-end. The company also disclosed approximately 1.5 gigawatts of capacity under construction and said near-term compute capacity was fully sold.

Management raised its forecast for year-end active power to more than 1.85 gigawatts from more than 1.7 gigawatts. Active power measures energized operating infrastructure and is distinct from the 1.5 gigawatts described as under construction.

CoreWeave forecast 2026 capital expenditure of $35 billion to $39 billion and full-year revenue of $12.4 billion to $13.2 billion. The company also projected third-quarter revenue of $3.45 billion to $3.6 billion and third-quarter capital expenditure of $11.5 billion to $13.5 billion; these are management forecasts rather than completed spending or recognized revenue.