CoreWeave Stock Surges Nearly 16% After Earnings, Analyst Says Old Nvidia GPUs Can 'Still Generate Revenu

On Tuesday, CoreWeave Inc.

(NASDAQ:CRWV) shares jumped nearly 16% in after-hours trading after its second-quarter results, with analyst Daniel Newman pointing to an extended Nvidia Corp (NASDAQ:NVDA) A100 contract as evidence that older AI GPUs may remain valuable far longer than expected.

CoreWeave Stock Jumps After Strong Q2 Results CoreWeave reported second-quarter revenue of $2.58 billion, topping analysts’ expectations of $2.56 billion, while its adjusted loss of $1.03 per share was narrower than the expected $1.22 loss.

Revenue more than doubled from a year earlier, rising about 112.5%.

The AI cloud provider also ended the quarter with a massive $104 billion revenue backlog, up more than threefold year over year.