CoreWeave Has $104 Billion of Contracted Revenue and a $59 Billion Market Value

• CoreWeave backlog hit $104B, up from $30.1B YoY • Shares jumped 19% as market cap reached $59B • 2026 capex guidance raised to $35B-$39B CoreWeave reported Q2 results with a $104B backlog, driving shares up 19%. The AI cloud provider sees revenue doubling to $2.6B and guides 2026 revenue at $12.4B-$13.2B. Capacity constraints remain, with power at 1.5GW targeting 1.85GW by year-end. The company raised 2026 capex to $35B-$39B, financed partly by $35B debt. Net interest expense doubled to $640M, and net loss widened to $626M despite $1.5B adjusted EBITDA. Political resistance to data centers adds further friction.