CoreWeave Reports $6.23 Billion Revenue With $100 Billion Backlog
CoreWeave reported a 217.6 percent year-over-year revenue increase and a growing backlog of nearly $100 billion as it transitions from crypto to AI infrastructure.
CoreWeave, Inc. reported substantial financial growth for the period ending March 2026, with trailing twelve-month revenue reaching $6.23 billion. This figure represents a 217.6 percent increase year-over-year, supported by Q1 2026 revenue of $2.08 billion. Company management projects full-year revenue for fiscal year 2026 to fall between $12 billion and $13 billion.
As of May 2026, the cloud infrastructure firm announced a revenue backlog of nearly $100 billion, an increase from the $66.8 billion reported at the end of fiscal 2025. This growth follows the company's strategic transition from cryptocurrency to artificial intelligence infrastructure.
Investment activity has increased alongside this shift. Situational Awareness LP grew its stake in the company to more than 7.1 million shares by the first quarter of 2026. Leopold Aschenbrenner expressed a bullish outlook on the broader industry trend of cryptocurrency firms pivoting toward AI infrastructure.
Keep reading in the app
The full story and every source, free in the app.
Coming soonGoogle Play