The company reported revenue backlog of $104.2 billion, up from $99.4 billion in the first quarter, and said it has secured over $25 billion of new customer commitments so far in the current quarter.
The stock is rated "buy" on average by 40 analysts; the median price target is $150, according to data compiled by LSEG.
So far this year, CRWV has jumped 26% year to date, compared with a 13.8% rise in the Nasdaq .IXIC.
CoreWeave jumps after quarterly beat and capex forecast hike
Shares of AI cloud company CoreWeave CRWV.O were up 16.7% at $105.4 in premarket trading.
The stock rises after the company beat second-quarter estimates and raised its annual capex forecast on strong demand for its AI computing services.
CoreWeave reported quarterly revenue of $2.58 billion, compared with estimates of $2.56 billion, according to data compiled by LSEG.
The AI cloud company now sees full-year capex of $35 billion-$39 billion, up from its previous expectations of $31 billion-$35 billion.
CoreWeave's margin performance strengthens confidence that robust AI demand is translating into bottom-line gains alongside revenue growth, J.P. Morgan analysts said.
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