CoreWeave shares surged about 14% after hours as Q2 revenue rose 112% to a record $2.58 billion and its AI cloud revenue backlog reached $104.2 billion.

CoreWeave reports Q2 earnings Tuesday as prediction-market traders wager on what the AI cloud giant will say about Nvidia, Anthropic, Meta and its massive AI buildout.

CoreWeave projects Q2 2026 revenue of $2.55B to $2.56B, roughly doubling year over year as demand for AI GPU cloud infrastructure continues to