CoreWeave's AI Demand Surges But Expansion Spending Cuts Into Profitability

CoreWeave CRWV shares tumbled on Wednesday after the AI-focused cloud computing provider posted mixed second-quarter results, highlighting surging revenue and backlog alongside margin pressures from an aggressive expansion plan. The company reported $1.21 billion in quarterly revenue, well above prior-year levels and fueled by new contracts with OpenAI and major hyperscalers, but investors reacted to guidance that signals significant near- term costs as CoreWeave ramps capacity toward 900MW by year-end. Sti ...