{
  "id": 617987,
  "title": "Nvidia-backed CoreWeave boosts 2026 spending plan, beats quarterly estimates on AI demand surge",
  "url": "https://urgent.news/2026/08/12/nvidia-backed-coreweave-boosts-2026-spending-plan-beats-quarterly",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-08-12T00:56:04.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/nvidia-backed-coreweave-boosts-2026-spending-plan-beats-quarterly-estimates-ai-demand-surge"
  },
  "original_language": "en",
  "account": "CoreWeave, an AI-focused cloud computing company backed by Nvidia, has increased its 2026 spending plan and exceeded quarterly estimates due to a surge in demand for its services. The company attributed its success to favourable terms in cloud deals, an expanding order book, price increases, and additional compute capacity coming online in 2026.\n\nCoreWeave, which has close ties with Nvidia, provides hardware and cloud capacity to other technology companies and has attracted high-profile customers such as Meta, Anthropic, and Caterpillar. CEO Michael Intrator noted that the company had outperformed its plan across the board, with operating leverage beginning to manifest in its results.\n\nThe company reported a revenue backlog of $104.2 billion in the second quarter and secured over $25 billion in net new customer commitments in the current quarter. With near-term capacity sold out, CoreWeave is negotiating more favorable terms for compute agreements. The company expects annual capital expenditures to range between $35 billion and $39 billion, up from its previous estimates of $31 billion to $35 billion.\n\nAccording to Zacks Investment Research, CoreWeave's near-term capacity sold out has resulted in a pivotal quarter for the company. Over half of its current backlog is tied to contracts where customer delivery has already started. The second-quarter revenue more than doubled to $2.58 billion, surpassing analysts' expectations. The adjusted loss per share was $1.03, smaller than the expected loss of $1.20. Capital expenditures for the June quarter amounted to $9.4 billion, up from $6.8 billion in the previous three months.",
  "summary": "Company is securing cloud deals on favourable terms amid limited supply, CEO says",
  "key_points": [],
  "editors_take": null,
  "illustration": "https://urgent.news/ill/617987.png",
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "CoinDesk",
        "title": "CoreWeave surges 16% on $2.58 billion revenue quarter as AI infrastructure demand eclipses crypto",
        "url": "https://urgent.news/2026/08/12/coreweave-surges-16-on-2-58-billion-revenue-quarter-as-ai",
        "published": "2026-08-12T09:41:52.000Z"
      },
      {
        "outlet": "CNA - Business",
        "title": "CoreWeave, Super Micro surge on signs of sustained AI buildout",
        "url": "https://urgent.news/2026/08/12/coreweave-super-micro-surge-on-signs-of-sustained-ai-buildout-683927",
        "published": "2026-08-12T09:58:01.000Z"
      },
      {
        "outlet": "Economic Times Tech",
        "title": "CoreWeave boosts 2026 spending plan, beats quarterly estimates on AI demand surge",
        "url": "https://urgent.news/2026/08/12/coreweave-boosts-2026-spending-plan-beats-quarterly-estimates-on-ai",
        "published": "2026-08-12T12:06:02.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "CoreWeave, Super Micro surge on signs of sustained AI buildout",
        "url": "https://urgent.news/2026/08/12/coreweave-super-micro-surge-on-signs-of-sustained-ai-buildout",
        "published": "2026-08-12T15:48:24.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}