CoreWeave's AI data center capacity has expanded from approximately 70 megawatts at the end of 2023 to 1.5 gigawatts by mid-2026, with projections to exceed 1.8 gigawatts by the end of 2026 and reach 3.2 gigawatts by the end of 2027. The company has a contracted revenue backlog of $104.2 billion as of the end of Q2 2026. However, its substantial debt has resulted in negative cash flow, persistent GAAP losses, and capital expenditures reaching $9.4 billion in Q2 2026, with the full-year guidance revised upwards to $35 billion to $39 billion.