CoreWeave surges 16% on $2.58 billion revenue quarter as AI infrastructure demand eclipses crypto

Booming AI demand sends CRWV up 16% and lifts IREN and CIFR as investors favor computing infrastructure over crypto.

CoreWeave jumped nearly 17% after raising its revenue outlook and reporting a $104 billion backlog.
The AI infrastructure provider said second-quarter revenue more than doubled to $2.58 billion, narrowly beating expectations, while its net loss of $626 million was smaller than analysts projected.
IREN and Cipher Digital gained 5% as investors favored AI data-center exposure over crypto.

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