CoreWeave shares rose approximately 18% in after-hours trading. The market welcomed the company's second-quarter 2026 results, which exceeded expectations, as well as the expansion in revenue and backlog and its outlook for future performance.
CoreWeave shares rose approximately 18% in after-hours trading in the U.S. The gain was attributed to the company's second-quarter 2026 results, which exceeded market expectations and pointed to a strong growth outlook. CNBC's report on the results is believed to have further supported investor sentiment.
Revenue, a key component of the results, reached $2.575 billion (approximately ¥409.4 billion), up 112% year on year. What particularly surprised the market was the increase in third-quarter 2026 revenue guidance to $3.45-$3.60 billion. The company's backlog was also reported to exceed $104 billion (approximately ¥16.5 trillion). In addition, new customer contracts reportedly exceeded $25 billion, strengthening the foundation for business growth.
At the same time, challenges have been identified on the financial front. Long-term interest-bearing debt was estimated at approximately $35 billion, while free cash flow was approximately -$5.7 billion. Accounting treatment related to GPU depreciation was also cited as a concern for investors. Investors assess the company against four criteria: the balance between supply and demand, acceleration in AI revenue, profit and cash flow, and the path from investment to returns. CoreWeave's results were viewed favorably against this backdrop.