CoreWeave beats quarterly revenue estimates on sturdy AI demand
The company offers access to data centers and Nvidia chips, which are highly coveted for training and running large AI models amid intense competition.
CoreWeave, which currently has 33 AI data centers up and running across the U.S. and Europe, focuses solely on GPU-based operations.
Revenue backlog was $30.1 billion as of June 30, the company said.
The company reported revenue of $1.21 billion for the second quarter, compared with analysts' average estimate of $1.08 billion, according to data compiled by LSEG.
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