Investing.com -- CoreWeave's second-quarter revenue more than doubled, helped by rising demand for artificial intelligence infrastructure, while the company's backlog swelled to $104 billion as it expanded capacity to meet customer commitments.

Revenue rose to $2.58 billion in the three months ended June 30 from $1.21 billion a year earlier. The company posted an operating loss of $49 million, compared with operating income of $19 million a year earlier, as operating expenses more than doubled to $2.62 billion.

The results underscore how rapidly spending on AI computing infrastructure is translating into demand for specialized cloud capacity, with revenue more than doubling and its contracted backlog reaching $104 billion. The strong bookings come as the company continues to invest heavily in power, computing capacity and financing to keep pace with AI customers.

The AI cloud provider said its revenue backlog stood at about $104 billion at the end of June, excluding more than $25 billion in net new customer commitments added in early July. The backlog reflects remaining performance obligations and other amounts expected to be recognized under committed contracts, subject to delivery and service availability.

CoreWeave's adjusted EBITDA rose to $1.51 billion from $753 million a year earlier, although its adjusted operating income fell to $128 million from $200 million. Adjusted net loss widened to $567 million from $130 million.

The company added nearly 500 megawatts of active power during the quarter, bringing its total to 1.5 gigawatts, while contracted power reached about 3.7 gigawatts. It also expanded relationships with AI and enterprise customers including Databricks, Cognition, Runway ML and Caterpillar.

CoreWeave said it completed the industry's first bring-up and validation of Nvidia's Vera Rubin NVL72 and introduced new tools for customers running AI workloads across multiple cloud platforms. It also reported new performance records for AI training and inference using Nvidia's Grace Blackwell platform.

The company also raised more than $10 billion through unsecured debt and convertible bonds during the quarter and secured a $3.1 billion term loan as it continued investing heavily in AI infrastructure.