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Spending on AI infrastructure by the world's largest cloud operators held firm through the second quarter, and CoreWeave's earnings put a number on it.
The AI cloud company reported that its second-quarter revenue doubled on surging demand from hyperscalers, lifting its shares 18% in premarket trading in what was described as a "cleaner quarter." Revenue doubling signals where hyperscaler budgets are going The read-through for the broader sector is direct.
Hyperscalers, the handful of mega-cap cloud platforms that collectively control most of the world's compute capacity, are still spending.
CoreWeave sits between that capex cycle and the GPU clusters those platforms need, making its order book a real-time proxy for AI buildout appetite.
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