CoreWeave shares jumped 18% after the company reported second-quarter revenue of $3.45 billion, up 112%, and lifted its 2026 revenue forecast to $3.52 billion. The update also included a $104 billion backlog and $25 billion in new customer commitments, pointing to sustained demand for the company’s AI infrastructure capacity. The figures suggest investors are focusing on the durability of future contracted business as competition to supply computing power for artificial intelligence workloads intensifies.