CoreWeave boosts 2026 spending plan, beats quarterly estimates on AI demand surge

CoreWeave lifted its annual capital spending forecast on Tuesday after beating second-quarter estimates, betting on a surge in demand for its AI cloud computing services, sending the company’s shares more than 14% higher in extended trading.

The AI cloud company also lifted its targets for 2026 revenue and adjusted operating profit, encouraged by a ballooning order book, benefits ‌from price increases ⁠and more ⁠compute capacity coming online this year.

CoreWeave, a so-called neocloud that offers hardware and cloud capacity to other technology companies, has seen demand skyrocket on relentless enterprise spending on AI.