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The Economic Times
The Economic Times
Technology

CoreWeave boosts 2026 spending plan, beats quarterly estimates on AI demand surge

CoreWeave Michael Intrator Nvidia

CoreWeave lifted its annual capital ​spending forecast on Tuesday ​after beating second-quarter estimates, encouraged by a surge in demand ​for its AI cloud computing services, sending the company's shares more than 14% higher in extended trading.

The AI cloud company also lifted its targets for 2026 revenue and adjusted profit, ‌banking on ⁠a ballooning ⁠order book, after its revenue backlog topped $100 billion in the June quarter.

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