When a caller inquired about IREN Limited (NASDAQ:IREN) during the lightning round on September 3, Mad Money host Jim Cramer said:
If you're going to do neocloud, you got to do, the only one I like is CoreWeave with Michael Intrator. The others I think are too speculative for me.
The two companies are at different stages of building their AI businesses. CoreWeave, Inc. (NASDAQ:CRWV) reported $2.575 billion of second-quarter revenue, up approximately 112% from a year earlier. Its revenue backlog stood at approximately $104 billion as of June 30, excluding more than $25 billion of additional customer commitments secured in early July. Furthermore, active power reached 1.5 gigawatts, while contracted power rose to approximately 3.7 gigawatts. CEO Michael Intrator said on the company's second-quarter earnings call that "our near-term capacity remains effectively sold out." He also described broadening customer demand and rapidly expanding enterprise adoption.
Meanwhile, IREN Limited's (NASDAQ:IREN) AI Cloud Services revenue reached $128.8 million in fiscal 2026, compared with $16.4 million a year earlier. Total fiscal 2026 revenue was $707 million, including $578.2 million from Bitcoin mining. The company reported $4 billion of contracted AI annualized run rate revenue for 2026 capacity, with $1 billion of operating ARR as of August 26. CEO Daniel Roberts said on August 27 that its 2026 capacity was "largely sold out." Roberts said recent three-year contracts represented more than $20 million of revenue per megawatt and that customer prepayments represented 45%-55% of ****** ociated GPU capital expenditures.
CoreWeave, Inc.'s (NASDAQ:CRWV) capital requirements remain substantial. The company spent $9.4 billion on capital expenditures in the second quarter and raised its 2026 CapEx forecast to $35 billion-$39 billion. It also reported $640 million of net interest expense and a $626 million net loss for the quarter. Total debt stood at $35.6 billion as of June 30.
#billion #revenue
If you're going to do neocloud, you got to do, the only one I like is CoreWeave with Michael Intrator. The others I think are too speculative for me.
The two companies are at different stages of building their AI businesses. CoreWeave, Inc. (NASDAQ:CRWV) reported $2.575 billion of second-quarter revenue, up approximately 112% from a year earlier. Its revenue backlog stood at approximately $104 billion as of June 30, excluding more than $25 billion of additional customer commitments secured in early July. Furthermore, active power reached 1.5 gigawatts, while contracted power rose to approximately 3.7 gigawatts. CEO Michael Intrator said on the company's second-quarter earnings call that "our near-term capacity remains effectively sold out." He also described broadening customer demand and rapidly expanding enterprise adoption.
Meanwhile, IREN Limited's (NASDAQ:IREN) AI Cloud Services revenue reached $128.8 million in fiscal 2026, compared with $16.4 million a year earlier. Total fiscal 2026 revenue was $707 million, including $578.2 million from Bitcoin mining. The company reported $4 billion of contracted AI annualized run rate revenue for 2026 capacity, with $1 billion of operating ARR as of August 26. CEO Daniel Roberts said on August 27 that its 2026 capacity was "largely sold out." Roberts said recent three-year contracts represented more than $20 million of revenue per megawatt and that customer prepayments represented 45%-55% of ****** ociated GPU capital expenditures.
CoreWeave, Inc.'s (NASDAQ:CRWV) capital requirements remain substantial. The company spent $9.4 billion on capital expenditures in the second quarter and raised its 2026 CapEx forecast to $35 billion-$39 billion. It also reported $640 million of net interest expense and a $626 million net loss for the quarter. Total debt stood at $35.6 billion as of June 30.
#billion #revenue
5 hours ago
