AI cloud provider CoreWeave (CRWV) stock rocketed as much as 20% higher in pre-market action after reporting revenue doubled year-over-year. "CoreWeave reached an important inflection point this quarter as our scale began to translate into expanding operating leverage," CEO Michael Intrator said in a statement. For the second quarter, CoreWeave saw losses per share of -$1.14 on revenue of $2.5 billion. CoreWeave stock has plunged more than 30% since it last reported results in May, amid concerns about revenue growth and its spending plans. The company's revenue backlog hit $104 billion, in line with expectations.