Investing.com -- CoreWeave shares jumped more than 15% on Tradegate Tuesday after the cloud-computing company posted its fifth consecutive quarter of record revenue and beat Wall Street estimates, underscoring continued strength in demand for AI computing.

CoreWeave is a specialized cloud provider that buys large volumes of Nvidia’s advanced graphics processing units and installs them in data centers, then leases that computing capacity to companies building and running AI models. Microsoft and OpenAI are among its largest customers.

The company reported second-quarter revenue of $2.58 billion, ahead of the $2.55 billion analysts polled by FactSet had expected. Adjusted per-share loss came in at $1.03, narrower than the $1.20 loss analysts had forecast.

CoreWeave’s sales backlog reached $104 billion, nearly double the order book reported in November, reflecting sustained demand for new AI infrastructure. The company said it added $25 billion in net new customer commitments early in the current quarter, not reflected in the Tuesday results.

Capital expenditures rose to $9.4 billion in the second quarter, up from $6.8 billion in the prior three months.

Looking ahead, CoreWeave guided third-quarter revenue to $3.45 billion-$3.60 billion, with adjusted operating income of $200 million-$260 million. Bernstein analysts said this implies "continued sequential margin
expansion and low-teens adjusted operating margin by Q4."

Full-year revenue guidance was raised to $12.4 billion-$13.2 billion from $12 billion-$13 billion, with adjusted operating income (AOI) guidance lifted to $960 million-$1.15 billion. Management also raised its 2026 exit annualized run-rate revenue target to $18.5 billion-$19.5 billion.

The company flagged managed inference as an additional growth driver, with booked annual recurring revenue jumping from roughly $1 million at launch to more than $100 million within several months. Management expects at least $250 million in managed-inference ARR by the end of 2026.

CoreWeave also raised its full-year capital expenditure guidance to a range of $35 billion to $39 billion, up from a previous forecast of $31 billion to $35 billion, as the company continues its rapid buildout of data centers.

"This was the strongest print CRWV has delivered," Bernstein analysts said in a note. However, "while guidance went up on every line: revenue, AOI, exit ARR, active power… capex went up higher than all of them," the analysts added.

"We’re maintaining our Underperform on the long-term fundamentals of this company and have not changed our view that the growth trajectory could shift hard and fast," they wrote.

On a call with analysts, executives said CoreWeave is bringing data-center capacity online faster than initially projected, having added 500 megawatts of computing power during the quarter.

Separately, the company said it closed a new $2.6 billion loan facility to fund additional chip purchases and AI infrastructure investment.