Overview
- Nvidia CEO Jensen Huang publicly praised CoreWeave and Nebius at the Goldman Sachs Communacopia + Technology Conference on Monday, saying they secure land, power and facility shells that hyperscalers have exhausted.
- Nvidia has already committed $2 billion to CoreWeave in January and $2 billion to Nebius in March as part of partnerships to build more than 5 gigawatts of AI capacity by 2030.
- CoreWeave reported Q2 revenue of $2.58 billion and a $104 billion revenue backlog but also posted a $626 million Q2 net loss and carries roughly $33.8 billion in debt plus an elevated $35–$39 billion 2026 capex guide.
- Nebius reported Q2 revenue of $582 million, a 50% AI‑cloud adjusted EBITDA margin, shrinking adjusted losses and disclosed potential multibillion commitments from Meta and Microsoft that support its contracted power guidance above 4 gigawatts.
- Analysts and lenders warn the market is large but capital intensive: research projects neocloud revenue rising from $25 billion in 2025 toward hundreds of billions by 2031, yet financing costs and execution risk differ sharply between builders and could strain grids, local real estate and investors if demand or deployment slips.