CoreWeave shares jump 16% as revenue more than doubles
The AI cloud computing company CoreWeave reported a 112% rise in revenue to $2.575 billion in the second quarter, beating expectations. CoreWeave's surge was driven by strong demand for computing power from tech giants and AI labs, leading to a record $104 billion order backlog. Despite this, the company remains unprofitable due to high capital spending and debt costs, which are a concern for investors.
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