CoreWeave gains 19%, Nebius surges 34% in post-earnings neocloud rally
NEW YORK, Aug. 13. CoreWeave gained 19% and Nebius surged 34% in premarket trading after CoreWeave reported that second-quarter revenue doubled on surging demand from hyperscalers. The results produced a post-earnings rally across neocloud stocks.
Key takeaways
- CoreWeave gained 19% and Nebius surged 34% in premarket trading following CoreWeave's second-quarter earnings report.
- CoreWeave reported that its second-quarter revenue doubled from the year-earlier period.
- Surging demand from hyperscalers drove CoreWeave's revenue increase.
- The results sparked a post-earnings rally across neocloud stocks, with both CoreWeave and Nebius classified as neoclouds.
- Nebius's 34% gain was the larger of the two premarket moves in the session.
NEW YORK, Aug. 13. CoreWeave gained 19% and Nebius surged 34% in premarket trading after CoreWeave reported that second-quarter revenue doubled on surging demand from hyperscalers. The results produced a post-earnings rally across neocloud stocks.
CoreWeave's second-quarter report
CoreWeave, an AI cloud giant, said second-quarter revenue doubled from the year-earlier period, according to the company. Hyperscaler demand drove the increase. The earnings release preceded regular trading, and CoreWeave's premarket price moved 19% higher.
Nebius moves higher
Nebius surged 34% in premarket trading alongside CoreWeave. Both companies are classified as neoclouds. Nebius's 34% gain was the larger of the two moves in the session.
Editor's note: The source summary provided a single revenue data point and two price moves. This article reflects that scope. No additional figures were available to report.