CoreWeave Posts $2.1B Revenue, Backlog Soars to $99.4B as Helios Delivery Begins
CRWV•CoreWeave generated $2.1 billion revenue, up 112% year-over-year, with backlog reaching a record $99.4 billion and ten customers committing at least $1 billion each. Galaxy completed delivery of the first 133 MW Helios system to CoreWeave, initiating revenue from the new capacity and boosting its $10 billion financial services backlog.
1. Q2 Financial Results
CoreWeave generated $2.1 billion in quarterly revenue, marking a 112% year-over-year increase as demand for cloud GPU solutions accelerated across key verticals.
2. Record Backlog and Financing
The company’s order backlog expanded to a record $99.4 billion, supported by commitments of at least $1 billion from ten customers and a financial services pipeline approaching $10 billion, underpinned by $20 billion in secured financing with no major maturities before 2029.
3. Helios Delivery and Revenue Generation
Galaxy’s delivery of the first 133 MW Helios system to CoreWeave has commenced revenue generation on the new capacity, enhancing CoreWeave’s operational footprint and scaling its service offerings.
