CoreWeave's revenue doubled in the second quarter, and the stock price surged 12% after the market

According to news, Coreweave (CRWV.O) rose 12% in post-market trading on Tuesday, after announcing second-quarter revenue of US$2.58 billion, up 112% year on year, exceeding Wall Street expectations, showing that the market's demand for AI computing power is still growing rapidly; net loss is US$626 million, up from US$290 million in the same period last year; order reserves have reached US$104 billion, and the project capacity is 1.5 gigawatts under construction. CoreWeave is speeding up the expansion of its data center business, competing with cloud computing giants such as Amazon, Google, and Microsoft to compete for the data center market where chips are deployed and can run generative artificial intelligence models. However, CoreWeave is currently unprofitable. By the end of the quarter, the company's balance sheet debt reached $35 billion to cover Nvidia GPU and other equipment procurement costs. This quarter, Meta said it would invest an additional $21 billion into CoreWeave. Additionally, CoreWeave also announced a multi-year cooperation agreement with Anthropic and received $6 billion in committed funding from quantitative trading company Jane Street.