CoreWeave Doubles Revenue, Raises Guidance; Nebius Beats as Neoclouds Surge
CRWV sits 76% above its 52-week low of $60.55.
Summary
CoreWeave's Q2 revenue of $2.58B, up 112% YoY, beat consensus and management raised full-year guidance to $12.4B-$13.2B. The $104B backlog, nearly triple last year, signals demand is still outstripping supply. Nebius also beat with $582.3M revenue, up 454%, and positive adjusted EBITDA. Both stocks are up sharply Wednesday, with CoreWeave +18.2% and Nebius +15.67%. This follows the Q2 earnings release and 10-Q filed yesterday; today's move reflects the market's reaction to the raised guidance and Nebius's results. Watch for continued momentum in the neocloud sector as hyperscaler capacity constraints persist.
At the time of this announcement, CRWV was trading at $106.82 on NASDAQ in the Technology sector, with a market capitalization of approximately $58.3B. The 52-week trading range was $60.55 to $153.20. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.