U.S. stocks move | Cloud computing service providers rally collectively: CoreWeave (CRWV.US) surges over 22% post-earnings, NEBIUS (NBIS.US) rises over 16%.
On Wednesday, cloud computing service providers collectively surged.
According to Jinse Finance APP, on Wednesday, cloud computing service providers collectively surged, with CoreWeave (CRWV.US) soaring over 22% after its earnings report, NEBIUS (NBIS.US) rising more than 16% post-earnings, IREN (IREN.US) up more than 7%, and Hut 8 (HUT.US) and Riot Platforms (RIOT.US) both increasing by over 4%.
On the news front, CoreWeave released its financial report after the market closed on Tuesday, injecting renewed confidence into the recent AI investment boom that had been facing skepticism. After the market closed on August 11, this AI computing power supplier, known as a representative of the “neocloud,” announced its second quarter of 2026 results ending June 30. Both revenue and profit exceeded Wall Street expectations, and the backlog order volume broke through the $100 billion milestone.
Additionally, driven by strong demand for AI computing power, Nebius saw its second-quarter cloud business sales surge 514% year-on-year. The financial report shows that Nebius's AI cloud business, which makes up the majority of its operations, recorded revenue of $575 million during the quarter. Total revenue for the period surpassed $582 million, a year-on-year increase of 454%, beating analysts' projection of $557 million. Net loss per share was $0.68, which was $0.18 worse than expected.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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