CoreWeave entered the second half of 2026 with approximately $104 billion of revenue backlog, and that figure did not yet include more than $25 billion of net new customer commitments secured in early Q3.
Revenue backlog stood at approximately $104 billion as of June 30. CoreWeave defines the measure as remaining performance obligations plus estimated future revenue under committed customer contracts that is subject to the company’s ability to deliver capacity and services. The company said the total excludes more than $25 billion of net new customer commitments added after the quarter closed.
The scale of the commitments comes as CoreWeave continues to rapidly expand its infrastructure footprint. Active power capacity increased by approximately 500 megawatts during the quarter to about 1.5 gigawatts, while total contracted power reached approximately 3.7 gigawatts.
Q2 revenue reached approximately $2.58 billion, compared with $1.21 billion in the prior-year period. CoreWeave reported a net loss of approximately $626 million. The company has also raised substantial additional capital to support its infrastructure buildout, including a $3.1 billion term loan and a $1 billion strategic investment from Jane Street.
KEY QUOTES:
“CoreWeave reached an important inflection point this quarter as our scale began to translate into expanding operating leverage. Customer demand is accelerating, as enterprise adoption broadens and we continue to deepen our technology platform.”
Michael Intrator, Co-Founder, Chairman and CEO of CoreWeave
