CoreWeave Reports Record Revenue and $104 Billion Backlog Amid Surging AI Compute Demand

Cloud-computing firm CoreWeave Inc. announced its fifth consecutive quarter of record revenue and a substantial sales backlog of $104 billion, underscoring the sustained high demand for Artificial Intelligence computing. The company acquires advanced AI chips, primarily NVIDIA's Graphics Processing Units, installs them in data centers, and leases them to major clients like Microsoft and OpenAI. This financial performance reflects the continued strength and rapid expansion of the AI infrastructure market.