CoreWeave, a leading AI Hyperscaler, announced its Q2 2025 financial results, showcasing record revenue and significant strides in AI infrastructure. With a 207% year-over-year revenue increase and a $30.1 billion backlog, the company is capitalizing on surging demand for AI cloud solutions. Strategic partnerships, technological advancements, and infrastructure expansion underscore CoreWeave’s leadership in the AI ecosystem.
Revenue reached $1.21B, up 207% from $395.4M in Q2 2024.
Revenue backlog grew to $30.1B, including a $4B OpenAI deal.
Signed new hyperscaler and enterprise clients like Cohere and Mistral.
Scaled AI infrastructure to 470 MW active power, 2.2 GW contracted.
First to deploy NVIDIA Blackwell GB200 systems at scale.
Acquired Weights & Biases, launching new AI platform capabilities.
CoreWeave reported Q2 2025 revenue of $1.21 billion, a 207% increase from $395.4 million in Q2 2024, surpassing Wall Street’s $1.08 billion estimate. Despite a net loss of $290.5 million, improved from $323 million last year, adjusted EBITDA rose to $753.2 million with a 62% margin. “Our strong second quarter performance demonstrates continued momentum across every dimension of our business,” said Michael Intrator, Co-Founder, Chairman of the Board and Chief Executive Officer, CoreWeave. The company raised $2 billion in Senior Unsecured Notes to fuel AI infrastructure growth.
CoreWeave secured a $4 billion expansion deal with OpenAI, building on a prior $11.9 billion agreement, and signed a new hyperscaler client. Additional wins include AI labs and enterprises like BT Group, Cohere, and Mistral, alongside becoming the official AI Cloud Computing Partner for the Aston Martin Aramco Formula One Team. These partnerships highlight CoreWeave’s role as a preferred platform for advanced AI workloads.
CoreWeave expanded its AI infrastructure, ending Q2 with 470 MW of active power and increasing contracted power to 2.2 GW. The company was the first to deploy NVIDIA GB200 NVL72 systems at scale, supporting clients like IBM and Mistral AI. Its MLPerf Training v5.0 submission, utilizing NVIDIA Blackwell GB200 instances, was 34 times larger and 4.5 times more performant than competitors. A new 250 MW data center campus in Kenilworth, NJ, is set for 2026 delivery.
The acquisition of Weights & Biases introduced new tools like Mission Control Integration for real-time AI cluster insights, W&B Inference for accessing open-source AI models, and W&B Weave Online Evaluations for performance monitoring. These enhancements, alongside the Weights & Biases by CoreWeave Fully Connected event, strengthen CoreWeave’s AI platform offerings.
CoreWeave’s Q2 2025 results reflect its pivotal role in meeting global AI demand. With record revenue, strategic partnerships, and cutting-edge infrastructure, the company is well-positioned to drive the next wave of AI innovation, delivering scalable solutions for enterprises worldwide.
CoreWeave, the AI Hyperscaler™, delivers a cloud platform of cutting-edge software powering the next wave of AI. The company's technology provides enterprises and leading AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the US and Europe. CoreWeave was ranked as one of the TIME100 most influential companies and featured on Forbes Cloud 100 ranking in 2024.
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