CoreWeave Inc shares jumped in extended trading after the artificial intelligence cloud provider reported second-quarter revenue that topped Wall Street estimates and raised its full-year outlook. The stock climbed more than 17% in pre-market activity following the results.
The company posted revenue of $2.58 billion for the quarter ended June 30, up roughly 112% from a year earlier, while adjusted earnings per share narrowed to a loss of $1.03, beating analyst expectations. CoreWeave raised its 2026 revenue forecast to between $12.4 billion and $13.2 billion and lifted its capital expenditure guidance to as much as $39 billion. Remaining contracted revenue grew to $104.2 billion at quarter-end, up from $99.4 billion three months earlier.
Jefferies maintained a Buy rating with a $150 price target, citing strong demand. The company secured more than $25 billion in new customer commitments early in the third quarter, including expanded deals with Meta Platforms and Jane Street Group.