CoreWeave posted second-quarter revenue of $1.21 billion, topping analyst estimates of $1.08 billion, according to data from Benzinga Pro. The company reported an adjusted loss of 27 cents per share, missing expectations for a 17-cent loss. CoreWeave has operated data centers in the U.S. and Europe since 2017 and went public on the Nasdaq earlier this year at $40 per share. The company supplies Nvidia GPUs to major technology and AI-focused firms. Total revenue rose over 300% year-over-year, and the company ended the quarter with a $30.1 billion revenue backlog. CEO Michael Intrator said the strong second-quarter results reflect broad business momentum and rapid scaling to meet unprecedented AI demand. Shares rose 130% in the three months since its IPO. The stock fell 5.92% in after-hours trading to, according to Benzinga Pro.
