CoreWeave (CRWV) beat Wall Street expectations for the second quarter, with revenue doubling by 112%.
CEO Michael Intrator noted that CoreWeave is collaborating with Anthropic and Meta.
- Revenue: $2.58 billion, compared to $2.56 billion expected
- Earnings per share: Loss of $1.03, versus a loss of $1.20 expected
The company's revenue reached $2.58 billion, while the net loss was $626 million.
CoreWeave forecasts revenue of $12.4 billion to $13.2 billion for 2026.
CoreWeave is competing with Amazon, Google, and Microsoft to open data centers.
New York Governor Kathy Hochul signed a moratorium on new data center construction in July.
Meanwhile, CoreWeave is seeing favorable trends in renting Nvidia chips.
Meta announced it would spend an additional $21 billion with CoreWeave.
