CoreWeave posts fifth straight record quarter with $104 billion backlog

CoreWeave reported its fifth consecutive quarter of record revenue and said its sales backlog reached $104 billion, underscoring continued strong demand for artificial-intelligence computing. The cloud-computing firm, which buys advanced AI chips known as graphics processing units from Nvidia, installs them in data centers and leases them to customers including Microsoft and OpenAI, posted $2.58 billion in revenue for the quarter ended in June. That was slightly above the $2.55 billion analysts polled by FactSet had expected.

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