CoreWeave's second-quarter revenue exceeded expectations, with backlog of orders reaching $104 billion

CoreWeave reported second-quarter results, with revenue of $2.575 billion, a year-on-year increase of 112%, higher than expectations of $2.56 billion. CoreWeave's revenue backlog of orders reached $104 billion, an increase from $99.4 billion at the end of the first quarter. CoreWeave CEO said that the expected profit margin on contracts signed in the second quarter is 5-10 percentage points higher than new contracts in recent quarters. According to Bit.com market data, CoreWeave closed up 2.42%, and its share price rose more than 16% after hours.