# CoreWeave Reports 112% YoY Revenue Growth

> CoreWeave, the specialized cloud provider that rents out AI compute, reported second quarter revenue of 2.58 billion dollars, up 112 percent from a year earlier, and raised its full year outlook to between 12.4 and 13.2 billion dollars. For a company that not long ago was a niche crypto mining outfit, that is a startling trajectory. The number that captures the AI infrastructure boom is the backlog: 104 billion dollars in committed revenue, plus another 25 billion in fresh commitments signed during the quarter. Demand is running so far ahead of supply that CoreWeave is lifting planned capital spending to between 35 and 39 billion dollars to build out more data center capacity. That spending is the double edged part of the story. CoreWeave is effectively borrowing and building against the assumption that enterprise AI demand keeps compounding. If it does, the company is positioned as a key arms dealer of the boom. If demand cools or its biggest customers build their own capacity, that mountain of capex becomes a serious risk. For now, the growth is real and the customers are paying.

_Section: [Daily AI Updates](https://www.wortins.com/daily-ai) · Source: CNBC · Published Wednesday, August 19, 2026_

## Wortins' read

CoreWeave, the specialized cloud provider that rents out AI compute, reported second quarter revenue of 2.58 billion dollars, up 112 percent from a year earlier, and raised its full year outlook to between 12.4 and 13.2 billion dollars. For a company that not long ago was a niche crypto mining outfit, that is a startling trajectory. The number that captures the AI infrastructure boom is the backlog: 104 billion dollars in committed revenue, plus another 25 billion in fresh commitments signed during the quarter. Demand is running so far ahead of supply that CoreWeave is lifting planned capital spending to between 35 and 39 billion dollars to build out more data center capacity. That spending is the double edged part of the story. CoreWeave is effectively borrowing and building against the assumption that enterprise AI demand keeps compounding. If it does, the company is positioned as a key arms dealer of the boom. If demand cools or its biggest customers build their own capacity, that mountain of capex becomes a serious risk. For now, the growth is real and the customers are paying.

## Source

[Read the full story at CNBC](https://www.cnbc.com/2026/08/11/coreweave-crwv-q2-earnings-report-2026.html)

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