CoreWeave 2026년 2분기: 매출 2배 증가, 미이행 잔액 246% 급증; Nebius AI 클라우드 매출 454% 폭등

CoreWeave shares rose 14% in extended trading on Tuesday after the artificial intelligence infrastructure provider reported quarterly results that surpassed Wall Street expectations. On an adjusted basis, the company posted a loss of $1.03 per share against a consensus estimate of $1.20, while revenue came in at $2.58 billion, slightly ahead of the $2.56 billion forecast.

Revenue surged 112% year over year, according to a company statement. However, the net loss widened to $626 million, compared to $290 million, or 60 cents per share, during the same period last year.

The company’s revenue backlog now stands at $104 billion, a figure that excludes more than $25 billion in new commitments secured during the third quarter. CoreWeave also reported 1.5 gigawatts of active power capacity. Looking ahead, management targets over 1.85 gigawatts in active power by year-end, alongside annual capital expenditures of $35 billion to $39 billion, up from a previous forecast of $31 billion to $35 billion.

For the third quarter, CoreWeave guided to revenue between $3.4 billion and $3.6 billion, implying 158% growth at the midpoint. This aligns closely with the $3.43 billion consensus estimate from analysts polled by LSEG. For full-year 2026, the company now projects adjusted operating income of $960 million to $1.15 billion on revenue of $12.4 billion to $13.2 billion. Analysts surveyed by LSEG had anticipated $12.63 billion in full-year revenue. In May, CoreWeave had forecasted $900 million to $1.1 billion in adjusted operating income on $12 billion to $13 billion in revenue.

The eight-year-old firm is competing directly with cloud market leaders Amazon, Google, and Microsoft to build data centers equipped with high-performance chips for generative AI models. Unlike its rivals, CoreWeave remains unprofitable. As of quarter-end, the company carried $35 billion in debt on its balance sheet to finance Nvidia graphics processing units and other infrastructure.

Opposition to data center expansion has intensified across the United States. In July, New York Governor Kathy Hochul signed an executive order imposing a moratorium on new large-scale facilities. Addressing these headwinds, CEO Mike Intrator emphasized that current projections remain unchanged. “When we talk through the numbers with you guys, we're basing our progress on where we are today and what we have guided here,” Intrator said on a conference call with analysts. “None of those numbers will be impacted by the regulatory pushback as of today.” He acknowledged the broader challenge, however, telling CNBC, “There is no question that when parts of the U.S. become unwilling to even engage in those conversations, that it becomes more challenging.”

Despite regulatory friction, CoreWeave is benefiting from strong pricing dynamics. “Pricing and margins for our Blackwell and Vera Rubin SKUs are setting new highs, while pricing for prior generation SKUs is at or above where it was years ago,” Intrator noted. Chief Financial Officer Nitin Agrawal added that the company is passing component cost increases through to customers. Demand remains robust, underscored by recent commercial milestones: Meta announced an additional $21 billion in spending with CoreWeave, the company finalized a multi-year agreement with Anthropic, and quantitative trading firm Jane Street committed $6 billion.

Rivalry in the sector is intensifying. SpaceX has begun monetizing excess computing capacity, while Meta has explored launching its own cloud business. Competitor Nebius saw its shares rise 5% in extended trading. “Even with this increased competition, we're seeing demand, pricing and margin all expanding, which is a signal for the growth in the CoreWeave ... product, as well as our growth overall in an already massive TAM that exists,” Agrawal said.

As of Tuesday’s close, CoreWeave shares were up 26% year to date, outpacing the S&P 500’s gain of nearly 13%. The company made its public debut on the Nasdaq in March 2025.