Cloud & platforms
CoreWeave
Business, financial evidence and documented connections to the AI buildout.
Business and AI exposure
CoreWeave provides GPU cloud services using leased, financed and owned infrastructure. Landlord handover and equipment readiness must precede billable computing; the landlord’s campus capacity is not evidence of CoreWeave utilization.
Earnings and disclosures
Latest verified results: Q2 and H1 2026 · Released 2026-08-11
Next results: No next results date listed in the official event listings checked 2026-10-18.
The current official calendar states that no events are scheduled.
Checked 2026-10-18 · Financial context and sources ↓
Financial context
For Q2 2026, CoreWeave reported $2.575 billion of revenue, a $49 million operating loss and $640 million of net interest expense, alongside $1.510 billion of adjusted EBITDA. Its $104 billion backlog represented estimated future contract revenue subject to delivery and service availability.
Delivery and commitments
Landlord disclosures report progress on North Dakota capacity. At Bell’s Sherwood campus, the October 1 government update described building shells and fit-out preparation, with the first hall targeted for the first half of 2027. These are separate sites and delivery stages.
ir.applieddigital.com · 2026-10-07 ↗ · www.bce.ca ↗ · www.saskatchewan.ca ↗
Costs, funding and dependencies
More than $10 billion of new unsecured debt and convertibles, plus $3.1 billion of infrastructure-backed financing, demonstrate capital access. They also create servicing and possible dilution obligations. Power, equipment acceptance and customer utilization remain essential.
What to watch next
Track accepted infrastructure becoming billable service and converting backlog into revenue and cash. Additional contracts announced after quarter-end should not be silently included in the June backlog or treated as already operating.
investors.coreweave.com · 2026-08-11 ↗ · ir.applieddigital.com · 2026-10-07 ↗ · www.saskatchewan.ca ↗
Documented project connections
Each connection below has a specific, cited role. A supplier, lender, customer or proposed acquirer has different economics from the project owner.
Bell AI Fabric Sherwood
Named future compute tenant in BCE Sherwood project paragraph; no attributable site revenue, utilization or identification as the prepayment payer.
The documented role does not establish contract value, project-level earnings, accepted operating load or a share of company revenue.
Blockfusion / CoreWeave Niagara Falls
Tenant/customer under executed agreement reported September 2026
The documented role does not establish contract value, project-level earnings, accepted operating load or a share of company revenue.
Core Scientific Denton
Contracted computing customer; site-specific cloud revenue and utilization undisclosed
The documented role does not establish contract value, project-level earnings, accepted operating load or a share of company revenue.
Core Scientific Muskogee
CoreWeave is the filing-named customer for the original Muskogee allocation; not inferred for every future expansion.
The documented role does not establish contract value, project-level earnings, accepted operating load or a share of company revenue.
CoreWeave Lancaster
Announced tenant and equipment investor
The documented role does not establish contract value, project-level earnings, accepted operating load or a share of company revenue.
Applied Digital Polaris Forge 1
CoreWeave is the customer named for Polaris Forge 1 in Applied Digital’s disclosure; lease economics remain separately scoped.
The documented role does not establish contract value, project-level earnings, accepted operating load or a share of company revenue.
Related Digital Cheyenne
First-phase anchor tenant
Role only; no project revenue, capital share or operating load inferred.
Evidence boundaries
Company totals, segment sales, bookings, backlog, spending, capacity and usage describe different things. They do not establish project-level revenue, earnings or an exact AI-only revenue share unless the cited disclosure explicitly says so.
This is a dated research snapshot. Forecasts are attributed expectations, and undisclosed amounts remain unknown. Source review does not certify every project or future outcome.