CoreWeave Surges Over 17% in Pre-market Trading, Q2 Revenue Doubles Exceeding Expectations, Backlog Reaches $104 Billion

August 12, according to BIT (bit.com) market data, CoreWeave's pre-market stock price surged over 17%, now trading at $106.

Earlier reports indicated that CoreWeave, a U.S. stock AI-specialized computing power cloud service provider, announced its Q2 performance, with a revenue of $2.575 billion, a 112% year-on-year increase, surpassing the expected $2.56 billion. The key indicator, revenue backlog, reached around $104 billion, a further increase from $99.4 billion at the end of Q1. The CEO stated that the expected profit margin from Q2 signed contracts is 5-10 percentage points higher than the newly added contracts in the past few quarters.