CoreWeave just told Wall Street it expects to pull in between $12 billion and $13 billion in revenue for fiscal year 2026.
The Nasdaq-listed AI infrastructure provider initially laid out the guidance during its Q4/FY2025 earnings release in February 2026, then reaffirmed it during its Q1 2026 earnings report on May 7. Q1 revenue came in at $2.078 billion, a 112% year-over-year jump from $982 million in the same period last year.
A backlog the size of a small country’s GDP
As of March 31, 2026, CoreWeave’s contracted revenue backlog stood at $99.4 billion.
The company counts some of the most consequential names in AI among its customers, including OpenAI, Meta, and Jane Street.
