Get Quartz in your inbox

Free daily briefing on global business news.

CoreWeave's revenue and losses both doubled, and its stock rose 11% after hours

The AI cloud company posted $2.58 billion in second-quarter revenue but net losses widened to $626 million as debt financing costs climbed

Omar Marques / SOPA Images / LightRocket via Getty Images

CoreWeave reported second-quarter revenue of $2.58 billion on Tuesday, more than double the $1.21 billion it recorded in the same period a year ago, as demand for AI computing infrastructure continued to climb. Net losses widened to $626 million from $290 million a year earlier, driven in large part by a surge in interest costs.

Revenue edged past Wall Street expectations of $2.56 billion, according........

© Quartz