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CoreWeave (CRWV) investors should have Aug. 11 circled on their calendars, when the artificial intelligence (AI) cloud infrastructure company is scheduled to report its second-quarter 2026 earnings after the market closes. The report comes as Wall Street looks for evidence that surging demand for GPU-powered cloud services is continuing to translate into explosive revenue growth and a clearer path toward profitability.
Investors will be watching closely for updates on customer demand, capacity expansion, margins, and management's outlook, particularly after renewed optimism across the AI sector and recent strength in CoreWeave shares fueled by robust results from major hyperscalers. With expectations running high, the upcoming earnings report could be the next major catalyst for the stock.
About CoreWeave Stock
Based in Livingston, New Jersey, CoreWeave was founded in 2017 and has transformed from its roots in cryptocurrency mining into a top-tier provider of GPU-optimized cloud infrastructure for AI training and inference. With a current market cap of $41.13 billion, the company continues to expand its presence in the rapidly growing AI infrastructure market.
CRWV has been one of the market's most volatile AI infrastructure stocks since its March 2025 IPO. The stock has experienced sharp swings as investors weighed its rapid AI-driven growth against its heavy capital spending and leverage.
Despite those fluctuations, CoreWeave shares have gained 27.52% year-to-date (YTD). However, the stock remains down around 13% over the past 52 weeks, reflecting the significant pullback from its all-time highs earlier this year.
More recently, bullish sentiment has returned in force, with the stock soaring 21.5% on July 30 and dipped 2.9% on July 31, only to add another 19.5% on Aug. 3 and 7.16% in the last session, fueled by a partnership with government IT giant Leidos (LDOS), renewed enthusiasm for AI infrastructure providers following strong earnings and spending commitments from major hyperscale technology companies reassured investors that demand for GPU cloud providers like CoreWeave would continue to grow, easing concerns about a slowdown in AI investment.
The sharp rebound underscores how closely CoreWeave's valuation is tied to expectations for continued AI infrastructure investment and positions the company's upcoming Aug. 11 earnings report as a potentially pivotal catalyst for the shares.
Notably, as per an Aug. 3 report, ARK Invest, led by Cathie Wood, purchased $15.5 million worth of CoreWeave shares across its exchange-traded funds, signaling continued confidence in CoreWeave's long-term AI infrastructure growth story despite the stock's volatility.
The stock is currently trading at 7.48 times forward sales, which is a modest premium compared to its peers.
Solid Top-Line Growth, but Bottom Line Remains in the Red
CoreWeave released its first-quarter 2026 financial results on May 7, delivering another quarter of exceptional top-line growth as demand for AI cloud infrastructure continued to surge. Revenue soared 111.6% year-over-year (YOY) to $2.1 billion, up from $982 million in the prior-year period, while adjusted EBITDA climbed 90.9% to $1.2 billion from $606 million. Revenue backlog expanded to a record $99.4 billion, highlighting unprecedented customer demand and providing strong long-term revenue visibility.
Despite the robust growth, profitability remained under pressure as CoreWeave accelerated investments to expand its AI infrastructure. Operating loss widened to $144 million from $27 million a year earlier, while net loss increased to $740 million from $315 million. CoreWeave reported a first-quarter 2026 loss per share of $1.40, compared with a $1.49 in the first quarter of 2025.
Adjusted operating income declined to $21 million from $163 million, and adjusted operating margin compressed to 1% from 17%, reflecting higher infrastructure investments and operating costs. However, adjusted EBITDA margin remained strong at 56%, but lower compared with 62% in the prior year.
Operationally, CoreWeave continued to strengthen its leadership in AI infrastructure. During the quarter, the company signed a $21 billion commitment with Meta Platforms (META), entered a multi-year agreement with Anthropic to power its Claude AI models, expanded relationships with customers including Cohere, Jane Street, and Mistral, surpassed 1 gigawatt of active power, and increased its contracted power capacity to more than 3.5 GW.
The company also closed a $2 billion equity investment from Nvidia Corporation (NVDA) and expanded its strategic partnership with the chipmaker to support the development of more than 5 GW of AI factories by 2030.
Furthermore, management projected second-quarter 2026 revenue of $2.45 billion to $2.6 billion and adjusted operating income of $30 million to $90 million, while reaffirming its long-term growth ambitions supported by the solid revenue backlog.
The company maintained its 2026 revenue forecast of $12 billion to $13 billion and adjusted operating income guidance of $900 million to $1.1 billion. It also raised its exit 2026 annualized run-rate revenue (ARR) target to $18 billion to $19 billion, while increasing its 2026 capital expenditure forecast to $31 billion to $35 billion to support accelerating customer demand and AI infrastructure expansion.
On the other hand, analysts anticipate losses to deepen in fiscal 2026, with loss per share expected to rise 111.9% YOY to $5.70, before improving 42.28% to $3.29 in fiscal 2027.
The consensus loss per share for the about to be reported quarter (ended June 2026) is at $1.67, which is a 209.26% deterioration.
What Do Analysts Expect for CoreWeave Stock?
Piper Sandler initiated coverage of CoreWeave recently with an “Overweight” rating and a $151 price target. The firm named CoreWeave its top AI infrastructure pick.
Also, last month, Truist Securities upgraded CoreWeave from “Hold” to “Buy” but while modestly lowering its price target to $126 from $131.
On the other hand, Barclays maintained its “Equal-Weight” rating on CoreWeave while lowering its price target to $90 from $120. The firm acknowledged CoreWeave's strong long-term AI infrastructure opportunity but cited valuation and near-term execution risks.
CoreWeave stock has a consensus “Moderate Buy” rating overall. Out of 36 analysts covering the stock, 20 recommend a “Strong Buy,” 15 analysts stay cautious with a “Hold” rating, and one advises a “Strong Sell.”
CRWV’s average analyst price target of $136.59 indicates an upside of 48.13%, while the Street-high target price of $250 suggests 171.12% upside ahead.
