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CoreWeave narrows Q2 losses, stock climbs 8%

CoreWeave, a cloud-based AI provider (CRWV), reported their Q2 results after the bell Tuesday. They narrowed the losses per share while meeting the expectations for revenue.
Following the announcement, shares rose by more than 8 percent.
In a press release, CEO Michael Intrator stated that “CoreWeave has reached a critical inflection-point this quarter. Our scale is now translating into increased operating leverage.”
The demand for our products is increasing as the enterprise adopts new technologies and as we deepen our platform.
CoreWeave reported losses of $1.14 per share on revenues of $2.5 Billion for the second quarter. Bloomberg’s analyst consensus estimated that Wall Street expected losses per share to be -$1.41 for revenue of $2.5 Billion.
CoreWeave’s stock price has fallen more than 30 percent since its last results were reported in May. This is due to concerns over revenue growth and spending plans.
In the second quarter, the company achieved an adjusted operating profit of $128 millions, which is higher than the $66 million consensus estimate.
CoreWeave invests billions in building data centres to house AI chips, which companies such as Meta (META), Anthropic (ANTH.PVT), and others rent out to power their AI models and services.
According to expectations, the company’s backlog of revenue reached $104 billion. The company stated that this number does not include the $25 billion in Q3 commitments.
CoreWeave faces new competition from SpaceX (SPCX), who has started renting computing power worth billions to Anthropic (GOOG) and Google (GOOGL, GOOGL).
Meta also considers entering this space. Mark Zuckerberg, CEO of Meta, teased the idea in prior investor calls. He said that renting capacity to other companies could be a good business decision for Meta.
Companies around the globe are eager to obtain as much computing power as they can to support their AI initiatives. Chip and memory supply is not keeping up with demand, so organizations will pay more to Meta to get a piece of their capacity.
Leasing capacity can make sense for a company looking to offset the millions it spends on AI.
This could, in the future, put CoreWeave under pressure.
Email Daniel Howley at dhowley@yahoofinance.com. You can follow him at @DanielHowley on Twitter.
Here are the most recent technology updates that could impact the market.

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Business

Powerball player in Illinois wins $1 billion jackpot

According to lottery officials, a Powerball ticket purchased in Illinois that matched six of the numbers drawn on Wednesday evening won an estimated $1,04 billion in jackpot.
The winning numbers are 4, 26, 66 67 69, and red Powerball 9
The jackpot is the eighth-largest Powerball in history.
Winners can choose between an annuitized payment over 29 years, or a cash lump sum of $450 million. The prizes both are tax-free.
The last time a jackpot was won on May 2, it had been 44 consecutive draws.
The biggest U.S. Lottery prize in history was $1.8 billion won by a Christmas Eve Powerball winner.
The third largest prize ever won by the U.S. Lottery was a $1.787 billion Powerball Jackpot in September 2025. Two tickets from Missouri and Texas were involved.
Please check back for updates. Check back often for the latest updates.

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Business

Illinois Powerball ticket wins $1.04 billion jackpot

The $1.040 billion Powerball jackpot was won by a ticket purchased in Illinois that matched the six winning Powerball numbers.
According to Powerball, the grand prize is worth an estimated $450.5million and it ranks eighth in terms of Powerball jackpots ever won.
On Nov. 7, 20,22, a Powerball ticket purchased in California won the largest jackpot ever in U.S. lottery history. The prize was $2.04 trillion. A $1.817 Billion Powerball Jackpot won on Christmas Eve is the second largest prize ever in U.S. Lottery history.
The numbers drawn on Wednesday are 4, 26, 66 67, and 69. The Power Play multiplier is 2x.
ARKANSAS WINNER CLAIMS POWERBALL JACKPOT OF $1.8B, CHOOSES TO CASH OUT
Stephen Durrell is the executive director and chairperson of Kansas Lottery’s Powerball Product Group. He congratulated the newest Powerball Jackpot winner from Illinois.
Durrell added, “For over three decades Powerball has proven that winning tickets can be purchased anywhere. Every $2 ticket gives the opportunity to not only change the life of the winner, but also generations yet to come.” As participation grows across all markets, the players help fuel bigger jackpots and increase excitement about the game.
The winner can choose between annuitized $1.040 billion prize or $450.5 millions in lump sum payment.
The prize amounts are both before tax.
GEORGIA RESIDENT IDENTIFIED as WINNER of $983M MEGA MILES JACKPOT – LARGEST EVER in STATE
The winner who chooses annuity will get a one-time payment, followed by 29 payments per year that are increasing by 5% every year.
Four more tickets purchased in Arizona, California and Florida, as well as North Carolina, matched the five white balls. Match 5 prizes are $1 million, except for California where payouts depend on pari-mutuel. According to Powerball, the fifth ticket purchased in Massachusetts matched the five white balls, and also included the Power Play Option for $1 more, which doubled the prize amount to $2,000,000.
Last time the Powerball jackpot won was May 2 when two tickets purchased in Florida and Texas shared a prize of $20 million.
The jackpot won on Wednesday was the biggest Powerball win so far in this year. This was the first time that players from United Kingdom have been included in this current run of jackpot drawings.
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For the Saturday drawing, the jackpot is reset at $20,000,000.
Powerball has a 1 in 292.2million chance of hitting the jackpot.

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Business

Powerball player in Illinois wins $1 billion lottery jackpot

According to lottery officials, a Powerball ticket purchased in Illinois that matched six of the numbers drawn on Wednesday evening won an estimated $1,04 billion in jackpot.
The winning numbers are 4, 26, 66 67 69, and red Powerball 9 Power Play was multiplied by 2x.
The jackpot is the eighth-largest Powerball in history.
Winners can choose between an annuitized payment over 29 years, or a cash lump sum of $450 million. The prizes both are tax-free.
The last time a jackpot was won on May 2, it had been 44 consecutive draws.
The biggest U.S. Lottery prize in history was $1.8 billion won by a Christmas Eve Powerball winner.

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Business

Whole Foods recalls foods in 12 states over salmonella risk

Whole Foods announced on Wednesday it was recalling some produce and foods prepared with fresh jalapenos provided by Coast Citrus Distributors due to possible salmonella contamination.
Food and Drug Administration stated that the products with “Best Before” date ranges from August 7 to 16 were sold across 12 states.
According to FDA, no illnesses were reported as a result of the Whole Foods recall.
Whole Foods announced that the recall covers select salsas and prepared food, including guacamole. The FDA website has a complete list of the affected products.
As the JALAPENO SALMONELLA outbreak sickens 345, 18 PREPARED FOODS ARE UNDER ALERT.
These products are sold in Texas and Oklahoma as well as Louisiana, Wisconsin, Michigan Illinois, Iowa Missouri, Arkansas Indiana Kentucky, Ohio, Wisconsin.
Whole Foods’ spokesperson stated that the recall on Wednesday was due to jalapenos in the product, which were purchased from Coast Citrus Distributors. The products are also linked with the recall of the distributor. Taylor Fresh Foods announced a recall on Sunday that included some of the same products.
Whole Foods’ action coincides with a larger salmonella outbreak that is linked to jalapenos and has hospitalized 345 individuals in 27 states.
Before Whole Foods’ announcement, a USDA alert on public health in Sinaloa (Mexico) had identified at least 18 meat and poultry ready to eat products distributed by Coast Citrus Distributors.
Nearly 30,000 pounds of RAW beef were recalled due to a missed import inspection
Taylor Farms announced on Monday a voluntary recall of jalapenos-containing prepared foods sold in Walmart, Whole Foods and other retailers across several states due to possible salmonella contamination.
The FDA reminded consumers to return any recalled Whole Foods product they purchased or to bring their receipts to Whole Foods Market for a refund.
Federal regulators say that illnesses associated with the jalapeno epidemic began between 2026 and June 19.
A CULT FAVORITE PIZZA CHAIN USES A SURPRISING METHOD TO REPRODUCE NYC FLAVOR NATIONALLY
The outbreak has affected several large brands and retailers, such as Taylor Farms and Deli Kitchen. It also affects Marketside, Wawa and Albertsons.
According to officials, Chipotle Mexican Grill and QDOBA received the same jalapenos from Sinaloa.
Chipotle has switched their jalapeno suppliers at the affected restaurants beginning July 20, and will no longer serve this product. QDOBA, meanwhile, stopped serving jalapenos in all its locations as of July 28,
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Coast Citrus Distributors agreed to recall all remaining product implicated in the outbreak and will no longer import jalapenos produced by the linked grower.
Salmonellosis is caused by food contaminated with the salmonella bacteria. Symptoms include diarrhea, abdominal cramps, and fever.

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Business

Former Google Exec Has Been in Talks for a $10 Billion Valuation for AI Startup

Jeff Dean worked on Google for 27 years. Investors could now bet $1 billion on his ability to build the next great thing in AI without Google.
Business Insider reported that the legendary Google engineer was in talks for $1 billion of financing for his AI startup Discovery Loop. The valuation for this new venture is around $10 billion.
Discovery Loop was one of Silicon Valley’s most discussed startups over the last week after Dean announced his resignation. Dean is a Google legend and was a pioneer in the field.
The details of the game could be altered. Dean’s representative declined to make any comments.
Dean, who hasn’t publicly disclosed fundraising details, has made it clear what the company, Discovery Loop is all about. He described the public benefit corporation on X, as a “public service corporation whose mission to automate machine-learning, science and engineering in order to accelerate progress and discoveries.”
Through “the parallel execution of thousands” of experiments, the company hopes to solve some of the most difficult problems in science and engineering.
According to a press release by Discovery Loop dated August 5, the initial round of funding for this company is led by Radical Ventures with Kleiner Perkins and Doerr Capital participating. Google CEO Sundar Pichai said that Alphabet was a founding partner and investor in the cloud.
Discovery Loop founders have decades of experience in building Google’s biggest products.
Sanjay Ghemawat, a longtime collaborator of Dean who joined Google in 1999, helped develop foundational distributed-computing technologies. Quoc le, one of the founding members of Google Brain became an expert in large-scale networks and deep learning, and contributed to advancements in foundational models. Oriol Vinyals was also a Google DeepMind researcher who specialized in sequence modeling, reinforcement learning, and other foundation models.
Dean showed a presentation on X, which a former Google product manager called “one the most stacked presentations ever created.”
The slide shows the products that were developed by Google’s founding team, such as Ads, Gemini and Gmail. One slide shows the academic qualifications of Dean, Le and Vinyals, based on Google Scholar ranking.
Discovery Loop is the latest team of Google employees to leave the company in order to fund new AI startups.
David Silver, a former DeepMind researcher, raised $1.1billion this year for Ineffable Intelligence. His new lab is focused on creating AI that can learn from experience. Former DeepMind researchers Misha Lakin and Ioannis Antoglou raised money at an estimated valuation of $25billion pre-money for Reflection AI.

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