CoreWeave’s interest expense reaches $640M, up 2.4 times year-over-year

CoreWeave has a revenue story that most startups would kill for. It also has an interest bill that would make a leveraged buyout specialist wince. The AI cloud infrastructure company reported Q2 2026 interest expense of $640 million, up 140% from $267 million in the same quarter a year ago. Revenue more than doubled to $2.575 billion, up from $1.212 billion year-over-year. The GAAP net loss, meanwhile, widened to $626 million compared to $290 million in Q2 2025. The debt pile keeping things interesting CoreWeave ended Q2 2026 with roughly $30 billion in long-term debt on its balance sheet. During the quarter alone, it raised over $10 billion in new debt and capital, including a $3.1 billion term loan and a $1 billion investment from Jane Street. The company’s full-year 2026 capital expenditure guidance now sits at $35 to $39 billion, most of it going toward NVIDIA GPU-heavy data centers. On the revenue side, the case for optimism is real. The company’s revenue backlog reached $104 billion, up 246% year-over-year, driven by demand from hyperscalers, AI labs, and enterprise customers. The adjusted operating income of $128 million shows the underlying compute business can generate pos...