--- title: "Neocloud Stocks Catch Fire As CoreWeave Doubles Revenue" type: "News" locale: "en" url: "https://longbridge.com/en/news/295677588.md" description: "Neocloud stocks rallied on Wednesday following strong earnings from CoreWeave and Nebius, highlighting surging AI infrastructure demand. CoreWeave's Q2 revenue doubled to $2.58 billion with a $104 billion backlog, while Nebius reported a 454% revenue jump. Consequently, shares of peers like IREN, HUT, and GLXY rose significantly, reinforcing the view that third-party GPU demand continues to outpace supply despite balance sheet risks." datetime: "2026-08-12T13:57:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295677588.md) - [en](https://longbridge.com/en/news/295677588.md) - [zh-HK](https://longbridge.com/zh-HK/news/295677588.md) --- # Neocloud Stocks Catch Fire As CoreWeave Doubles Revenue Neocloud stocks are rallying Wednesday after a pair of blowout earnings reports from sector leaders **CoreWeave Inc.** (NASDAQ:CRWV) and **Nebius Group N.V.** (NASDAQ:NBIS) reinforced the scale of AI infrastructure demand. - _CRWV stock is racing higher. See the real-time price action here._  CoreWeave posted second-quarter revenue of $2.58 billion late Tuesday, up 112% year-over-year and ahead of the $2.56 billion analysts had expected. Revenue backlog jumped to $104 billion, nearly triple the year-ago figure, and management raised full-year guidance to $12.4 billion-$13.2 billion.  Nebius followed Wednesday morning with its own beat. Revenue came in at $582.3 million, a 454% jump from the year-ago quarter and above the roughly $574 million consensus estimate. Adjusted EBITDA turned positive at $236.2 million, versus a loss in the same period last year.  Shares across the neocloud trade are higher Wednesday: - **CoreWeave**: up 18.2% - **Nebius Group**: up 15.67% - **IREN Limited** (NASDAQ:IREN): up 8.01% - **Hut 8 Corp.** (NASDAQ:HUT): up 7.57% - **Applied Digital Corp.** (NASDAQ:APLD): up 7.7% - **Core Scientific Inc.** (NASDAQ:CORZ): up 7.24% - **Cipher Mining Inc.** (NASDAQ:CIFR): up 6.04% - **Galaxy Digital Inc.** (NASDAQ:GLXY): up 5.22% - **TeraWulf Inc.** (NASDAQ:WULF): up 4.9% **Read Also: Supermicro's $60 Billion Backlog Meets its Audited Truth Test** Neoclouds are cloud providers built specifically around renting out graphics processing units for artificial intelligence work, rather than offering the sprawling menus of services sold by traditional hyperscalers like **Amazon.com Inc.** (NASDAQ:AMZN), **Microsoft Corp.** (NASDAQ:MSFT) or **Alphabet Inc.** (NASDAQ:GOOGL) (NASDAQ:GOOG).  The model, often called GPU-as-a-service, gives AI labs and enterprises fast access to **Nvidia Corp.** (NASDAQ:NVDA) chips without the capital burden of building data centers from scratch.  Several names in the group, including IREN, Applied Digital, TeraWulf, Core Scientific, Cipher Mining and Hut 8, started as **Bitcoin** (CRYPTO:BTC) miners before converting their power infrastructure toward AI hosting as GPU demand outpaced crypto economics. ## The Takeaway The two earnings reports matter beyond the individual companies. CoreWeave and Nebius sit at the center of a debate over whether hyperscalers will eventually build enough of their own capacity to sideline third-party GPU providers.  Wednesday’s numbers argue the opposite is happening for now — demand keeps outrunning supply, and both companies described near-term capacity as effectively sold out. Risks remain heavy on both balance sheets. CoreWeave’s net loss widened to $626 million in the quarter as interest expense climbed to $640 million on rising debt loads, while Nebius swung to a $190.4 million net loss from continuing operations, partly reflecting a prior-year investment gain that did not repeat.  **Read Also: Rocket Lab's Neutron Timeline Wobbles, Overshadowing Record Revenue** _Photo: Minh8686 / Shutterstock_ ### Related Stocks - [BRPHF.US](https://longbridge.com/en/quote/BRPHF.US.md) - [HUT.US](https://longbridge.com/en/quote/HUT.US.md) - [NBIS.US](https://longbridge.com/en/quote/NBIS.US.md) - [IREN.US](https://longbridge.com/en/quote/IREN.US.md) - [CRWV.US](https://longbridge.com/en/quote/CRWV.US.md) - [GLXY.US](https://longbridge.com/en/quote/GLXY.US.md) - [IRE.US](https://longbridge.com/en/quote/IRE.US.md) - [GLGG.US](https://longbridge.com/en/quote/GLGG.US.md) - [IREX.US](https://longbridge.com/en/quote/IREX.US.md) - [NEBX.US](https://longbridge.com/en/quote/NEBX.US.md) - [CORD.US](https://longbridge.com/en/quote/CORD.US.md) - [NBIG.US](https://longbridge.com/en/quote/NBIG.US.md) - [CWVX.US](https://longbridge.com/en/quote/CWVX.US.md) - [NBIL.US](https://longbridge.com/en/quote/NBIL.US.md) - [GLXU.US](https://longbridge.com/en/quote/GLXU.US.md) - [CRWU.US](https://longbridge.com/en/quote/CRWU.US.md) - [NBIZ.US](https://longbridge.com/en/quote/NBIZ.US.md) - [IREZ.US](https://longbridge.com/en/quote/IREZ.US.md) - [CRWG.US](https://longbridge.com/en/quote/CRWG.US.md) - [CWY.US](https://longbridge.com/en/quote/CWY.US.md) - [APLD.US](https://longbridge.com/en/quote/APLD.US.md) - [CORZ.US](https://longbridge.com/en/quote/CORZ.US.md) - [CIFR.US](https://longbridge.com/en/quote/CIFR.US.md) - [WULF.US](https://longbridge.com/en/quote/WULF.US.md) - [SMCI.US](https://longbridge.com/en/quote/SMCI.US.md) - [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [RKLB.US](https://longbridge.com/en/quote/RKLB.US.md) - [CORZZ.US](https://longbridge.com/en/quote/CORZZ.US.md) - [CORZW.US](https://longbridge.com/en/quote/CORZW.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) ## Related News & Research - [Why Are Nebius Shares Trading Lower On Wednesday?](https://longbridge.com/en/news/296383504.md) - [Nebius' contracted power guidance continues to surge. 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