CoreWeave shares jumped 12% as the cloud-computing firm reported its fifth consecutive quarter of record revenue. Revenue for the quarter ended June was $2.58 billion, above analyst expectations of $2.55 billion. The company's sales backlog reached $104 billion, nearly doubling from November, signaling strong demand for AI infrastructure.\n\nCoreWeave buys advanced AI chips from Nvidia, installs them in data centers, and leases them to companies like Microsoft and OpenAI.

CEO Michael Intrator called the recent period the strongest bookings quarter in company history. The company added $25 billion of net new customer commitments early in the current quarter.\n\nHowever, investors remain concerned about capacity constraints, including construction delays and component shortages. Late last year, CoreWeave's share price declined 46% in about six weeks as AI-bubble fears mounted and the company reported construction logjams at some data centers.

Despite these challenges, the strong backlog and revenue growth indicate continued demand for AI computing.