CoreWeave raises capital-spending plan as contracted AI-cloud demand grows

CoreWeave reported US$2.58 billion second-quarter revenue, US$104.2 billion revenue backlog and more than US$25 billion of net new customer commitments in the current quarter. It raised 2026 capital-expenditure guidance from US$31–35 billion to US$35–39 billion; quarterly capex reached US$9.4 billion.

Why it matters: This is a quantified demand signal for specialist AI cloud capacity. Impact: Capacity can expand, but customers and investors must price leverage, construction delays, power and chip availability, customer concentration and the difference between backlog and recognised revenue.

a report · CoreWeave investor relations