Why Is CoreWeave (CRWV) Stock Moving Today?
Today's catalyst, August 11, 2026: CoreWeave reported second-quarter results after the close — revenue of $2.58 billion up 112% year over year, a narrower-than-expected loss, and a backlog that reached $104 billion before counting $25 billion of new July commitments. The stock rose 9.92% in the fifteen minutes after the release.
- Today's catalyst: second-quarter 2026 results, released after the close on August 11 at 20:13 UTC.
- Revenue of $2.58 billion rose 112% from a year earlier and edged the $2.56 billion estimate.
- The loss per share of $1.03 was narrower than the $1.22 the tape expected — though the absolute net loss widened 116% to $626 million.
Reaction by asset (real prices)
| Asset | 2m before | At release | +1m | +10m | +1m % | +10m % | Vol vs normal |
|---|---|---|---|---|---|---|---|
| CRWV | 88.21 | 88.21 | 93.98 | 96.96 | +6.54% | +9.92% | — |
CoreWeave's move today traces to one event: second-quarter 2026 results, released after the close on August 11 at 20:13 UTC. The AI cloud provider reported revenue of $2.58 billion — up 112% from $1.212 billion a year earlier and just past the $2.56 billion estimate on our tape — with a loss per share of $1.03 against the $1.22 loss expected. Our measured reaction: the stock was up 9.92% fifteen minutes after the headline crossed.
| Metric | Q2 2026 | Comparison |
|---|---|---|
| Revenue | $2.58B | +112% year over year; est. $2.56B |
| Loss per share | $1.03 | est. $1.22 loss |
| Revenue backlog | ~$104B | vs $99.4B at end of Q1 |
| New commitments, early July | over $25B | not yet in the backlog |
| Measured reaction | +9.92% | 15 minutes after release |
The number doing the work in today's move is the backlog: roughly $104 billion of contracted future revenue as of June 30, up from $99.4 billion three months earlier, before counting more than $25 billion of net new customer commitments signed in early July. Contracted demand at that scale — dozens of times the quarter's billed revenue — is what lets the market look past a net loss that widened 116% year over year to $626 million while the company builds data-center capacity ahead of the revenue it will carry. The company's 1.5 gigawatts of active power is the number to watch from here: backlog converts to revenue only as fast as that capacity grows.
We published a full breakdown of the quarter — including why the loss is widening at the same pace revenue is doubling — on our CoreWeave Q2 2026 earnings page.
Sources
-
CoreWeave Q2 revenue reaches $2.58 billion as backlog grows to $104 billion
— Blockspace
Revenue, growth, backlog, July commitments, active power, and the loss
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CoreWeave (CRWV) Q2 earnings report 2026
— CNBC
Independent confirmation of the August 11 report
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