2,575 USD million
CoreWeave's second-quarter 2026 revenue was $2,575 million, up from $1,212 million in the second quarter of 2025.
CoreWeave, Inc.1.5 GW active power
CoreWeave expanded active power by nearly 500 MW to reach 1.5 GW in the second quarter of 2026.
CoreWeave, Inc.3.7 GW contracted power
CoreWeave's total contracted power grew to approximately 3.7 GW at the end of the second quarter of 2026.
CoreWeave, Inc.Source: CoreWeave, Inc.
Why this market is moving now
- CoreWeave's contracted backlog rose from $66.8 billion at the end of 2025 to about $104 billion by June 30, 2026.
- Its active power grew from more than 850 MW to 1.5 GW in six months.
- Contracted power of about 3.7 GW is more than twice what is switched on, so capacity is still being built.
Key figures
Each figure links to the page it came from.
| Figure | Value | Year | Source |
|---|---|---|---|
| CoreWeave's revenue backlog was approximately $104 billion as of June 30, 2026. | 104 USD billion | 2026 | CoreWeave, Inc. |
| CoreWeave's second-quarter 2026 revenue was $2,575 million, up from $1,212 million in the second quarter of 2025. | 2,575 USD million | 2026 | CoreWeave, Inc. |
| CoreWeave expanded active power by nearly 500 MW to reach 1.5 GW in the second quarter of 2026. | 1.5 GW active power | 2026 | CoreWeave, Inc. |
| CoreWeave's total contracted power grew to approximately 3.7 GW at the end of the second quarter of 2026. | 3.7 GW contracted power | 2026 | CoreWeave, Inc. |
| CoreWeave's first-quarter 2026 revenue was $2,078 million and its backlog was $99.4 billion at March 31, 2026. | 2,078 USD million | 2026 | CoreWeave, Inc. |
| CoreWeave's fourth-quarter 2025 revenue was $1,572 million, and its backlog grew to $66.8 billion at December 31, 2025. | 1,572 USD million | 2025 | CoreWeave, Inc. |
| CoreWeave's full-year 2025 revenue was $5,131 million. | 5,131 USD million | 2025 | CoreWeave, Inc. |
| CoreWeave ended 2025 with more than 850 MW of active power and about 3.1 GW of total contracted power. | 850 MW active power | 2025 | CoreWeave, Inc. |
Companies to watch
CoreWeave
Listed GPU cloud provider with 1.5 GW active power and about 3.7 GW contracted at June 30, 2026.
What the full report covers
- 1
Executive summary
The answer on two pages: size, growth and what drives it.
- 2
Market size and outlook
History, the current year and a five-year view with base, low and high cases.
- 3
Segments and regions
Splits by product, buyer and geography across the US, Europe and MEA.
- 4
Company profiles
The main players, how they compete and where they are investing.
- 5
Data and method
Every figure in Excel, with the sources and assumptions behind it.
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the United States market - 03Market size, 2021 to 2025
Historical series and growth rates - 04Outlook to 2031
Base, low and high scenarios with stated assumptions - 05Rules, policy and deadlines
Regulation and programmes that change demand - 06Drivers and barriers
What accelerates or slows adoption, by customer segment - 07Prices, costs and margins
Unit economics where public data allows - 08Competitive landscape
8 to 12 company profiles with recent moves - 09Opportunities and risks
For new entrants, suppliers and investors - 10Method and sources
Every assumption and source, listed
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
- Written to order in 5 working days
Frequently asked questions
How big is CoreWeave?
CoreWeave reported revenue of $5,131 million for 2025 and $2,575 million for the second quarter of 2026, with a revenue backlog of about $104 billion.
How much data center power does CoreWeave have?
At June 30, 2026 it had 1.5 GW of active power and about 3.7 GW contracted, per its Q2 2026 release.
What is a revenue backlog?
It is the contracted revenue CoreWeave expects to recognise from customer commitments. It was approximately $104 billion at June 30, 2026, up from $66.8 billion at the end of 2025.
How fast is GPU cloud revenue growing?
CoreWeave's quarterly revenue went from $1,572 million in Q4 2025 to $2,078 million in Q1 2026 and $2,575 million in Q2 2026.
Sources and method
The figures on this page come from the public sources listed below. Read how we work.
- CoreWeave, Inc.: CoreWeave Q2 2026 earnings press release (Form 8-K Exhibit 99.1) (2026-08-11)
Revenue backlog1 was approximately $104 billion as of June 30, 2026.
- CoreWeave, Inc.: CoreWeave Q2 2026 earnings press release (Form 8-K Exhibit 99.1) (2026-08-11)
Revenue: $2,575 million (three months ended June 30, 2026) versus $1,212 million (June 30, 2025)
- CoreWeave, Inc.: CoreWeave Q2 2026 earnings press release (Form 8-K Exhibit 99.1) (2026-08-11)
Expanded active power by nearly 500 MWs to reach 1.5 GW
- CoreWeave, Inc.: CoreWeave Q2 2026 earnings press release (Form 8-K Exhibit 99.1) (2026-08-11)
Grew total contracted power to approximately 3.7 GW
- CoreWeave, Inc.: CoreWeave Q1 2026 earnings press release (Form 8-K Exhibit 99.1) (2026-05-07)
Three Months Ended March 31, 2026 2025 Revenue $ 2,078 $ 982
- CoreWeave, Inc.: CoreWeave Q4 and full year 2025 earnings press release (Form 8-K Exhibit 99.1) (2026-02-26)
Three Months Ended December 31, Twelve Months Ended December 31, 2025 2024 2025 2024 Revenue $ 1,572 $ 747 $ 5,131 $ 1,915
- CoreWeave, Inc.: CoreWeave Q4 and full year 2025 earnings press release (Form 8-K Exhibit 99.1) (2026-02-26)
Three Months Ended December 31, Twelve Months Ended December 31, 2025 2024 2025 2024 Revenue $ 1,572 $ 747 $ 5,131 $ 1,915
- CoreWeave, Inc.: CoreWeave Q4 and full year 2025 earnings press release (Form 8-K Exhibit 99.1) (2026-02-26)
Added approximately 260 MW of active power capacity, bringing the total to more than 850 MW
Free sample
Get a free sample of this report
We send the table of contents, two sample chapters and the method note, usually within one working day. You owe us nothing for asking.
- Full table of contents
- Two sample chapters
- Method note and data outline