CoreWeave reported $5.13 billion in 2025 revenue, up 168% from the prior year, and raised its 2026 revenue guidance to $12.4 billion-$13.2 billion from an initial forecast of $12 billion-$13 billion. The GPU cloud infrastructure provider reported second-quarter 2026 revenue of $2.58 billion, a 112% year-over-year increase, and now projects an exit annualized run-rate revenue of $18.5 billion-$19.5 billion for the year. Its contracted revenue backlog increased from $66.8 billion at the end of 2025 to $104.2 billion by June 30, 2026, which the company described as a 246% year-over-year increase. Microsoft and OpenAI are among its key customers. CoreWeave plans $30 billion-$39 billion in 2026 capital expenditures and aims to roughly double its active power capacity from more than 850 megawatts across 43 data centers at the end of 2025. The company listed on Nasdaq under the ticker CRWV in March 2025.