CoreWeave (CRWV) Stock Backlog Reaches $104 Billion Amid Concerns

CoreWeave (CRWV) has a backlog of $104 billion while its market cap is under $50 billion. The company burned $5.7 billion in free cash flow last quarter and has guided full-year capital expenditures (capex) up to $39 billion. Revenue for Q2 2026 was reported at $2.6 billion, reflecting a 112% year-over-year increase. Despite a 15.55% decline in shares over the past week, the stock is up 25.35% year-to-date, indicating potential volatility ahead for investors.