CoreWeave’s shares dropped as much as 9 per cent in after-hours trading on Tuesday, after the artificial intelligence data centre operator reported bigger second-quarter net losses than Wall Street expected.

CoreWeave easily topped quarterly revenue estimates on Tuesday as the rapid adoption of artificial intelligence tools boosted demand for its cloud services, but a bigger-than-expected net loss sent its shares slumping 10% after the bell.

CoreWeave stock fell amid second quarter revenue growth of over 200%. The revenue beat came in at 12%, smaller than Q1's 15% beat.