CoreWeave reported Q2 2026 revenue of $2.6 billion, up 112% year-over-year. The company operates 51 active data centers with over 1.5 GW of active power and contracted capacity reaching 4.2 GW. Its revenue backlog exceeds $104 billion, backed by long-term agreements with Microsoft, Meta, and OpenAI, some extending through 2032. The company raised full-year 2026 revenue guidance to a range of $12.4 billion to $13.2 billion. Despite these strong fundamentals, the market remains skeptical due to CoreWeave’s substantial debt load and margin pressures, even as the firm raised over $30 billion in debt and equity during 2026.
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