CoreWeave's Interest Expense Hit $640 Million Last Quarter, 2.4 Times What It Was a Year Ago

CoreWeave's interest expense surged to $640 million in Q2 2026, more than double the $267 million from a year earlier, driven by a debt balance that grew to $35 billion. While the company reduced its weighted average cost of debt by 300 basis points through refinancing, the rapid expansion of borrowing outpaced these savings. With Q3 guidance suggesting interest expenses of $860-940 million against only $200-260 million in adjusted operating income, the gap between debt servicing costs and profitability is widening significantly.