CoreWeave Reports Strong Q2 2025 Revenue, Misses EPS Estimates

CoreWeave (CRWV.US) announced its Q2 2025 financial results, reporting revenue of $1.21 billion, a significant increase from $395.37 million in the same quarter last year. The company's adjusted net loss for the quarter was $(130.81) million, which compares to an adjusted net loss of $(5.13) million in Q2 2024. Despite the revenue growth, the adjusted net loss per share of $(0.27) missed analyst estimates of $(0.23).

Record Revenue Backlog and Strategic Customer Wins

CoreWeave achieved a record revenue backlog of $30.1 billion as of June 30, 2025, demonstrating robust demand for its AI cloud services. Key customer wins and expansions included a $4 billion expansion deal with OpenAI and the addition of a new hyperscaler customer, reinforcing the company's position in the AI infrastructure market.

The company continued its rapid scaling of AI infrastructure, ending the quarter with approximately 470 MW of active power and increasing total contracted power to approximately 2.2 GW. CoreWeave also became the first to bring NVIDIA GB200 NVL72 systems online for customers at scale, including AI frontier companies like Cohere, IBM, and Mistral AI, showcasing its technology leadership.

Enhanced Cloud Platform Capabilities

CoreWeave expanded its cloud platform capabilities through strategic acquisitions and product launches. The acquisition of Weights & Biases led to the introduction of new products such as Mission Control Integration for cluster health management and W&B Inference for accessing leading open-source AI models.

These developments aim to provide AI developers with advanced tools and insights, further solidifying CoreWeave's role as a platform of choice for advanced AI workloads. Additionally, the company announced plans for a new greenfield purpose-built AI data center campus in Kenilworth, NJ, with an initial phase expected to be delivered in 2026.