TradingKey – CoreWeave (CRWV) reported growth in its second quarter, reflecting continued market demand for AI computing services. Revenue for the quarter more than doubled year over year. The company’s backlog continued to grow, and CoreWeave signed a contract worth around $21 billion with Meta. In addition, CoreWeave’s rival, Anthropic, signed a multibillion-dollar deal to include Claude in its services.

Even with a strong second quarter, CRWV saw a 35% drop from its prior peak in May. This drop likely stems from doubts related to profitability, and not uncertainty related to overall market demand. Wall Street is wondering how the company will fund operations related to its computing hardware, as well as construction and operation…