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The AI cloud company posted $2.58 billion in second-quarter revenue but net losses widened to $626 million as debt financing costs climbed
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CoreWeave reported second-quarter revenue of $2.58 billion on Tuesday, more than double the $1.21 billion it recorded in the same period a year ago, as demand for AI computing infrastructure continued to climb. Net losses widened to $626 million from $290 million a year earlier, driven in large part by a surge in interest costs.
Revenue edged past Wall Street expectations of $2.56 billion, according to Reuters. Analysts had projected a loss per share of $1.41, according to Yahoo Finance. CoreWeave posted a loss of $1.14 per share for the quarter.
