TLDR
- Nebius shares surged 18% after second-quarter revenue increased 454% year over year to $582.3 million.
- AI cloud services generated 98% of Nebius revenue as segment sales climbed more than 500%.
- Nebius secured four contracts exceeding $1 billion each, with 70% including customer prepayment terms.
- CoreWeave shares gained 20% after reporting $2.5 billion revenue and $104 billion contracted backlog total.
- Nebius stock has gained roughly 131% in 2026 as demand for GPU computing capacity grows.
Nebius Group shares surged 18% after second-quarter revenue jumped 454% from a year earlier, as demand for AI cloud computing capacity supported growth and pushed the stock higher in 2026.
Nebius Stock Rallies After Q2 Revenue Jumps 454%
Nebius shares climbed 18% to $227.70 on August 12 after the AI infrastructure company reported second-quarter revenue of $582.3 million. Revenue increased 454% year over year and came above analysts’ consensus estimate of about $572.75 million.
The latest rally extended Nebius stock’s year-to-date gain to roughly 131%. AI cloud services generated about 98% of the company’s quarterly revenue, with sales from the segment rising more than 500% compared with the same period a year earlier.
Nebius also secured four contracts valued at more than $1 billion each during the quarter. About 70% of those agreements included customer prepayments, providing the company with funds before customers consume the contracted computing capacity.
Management cited continued customer demand alongside near-term capacity constraints as Nebius expands its infrastructure. Demand for graphics processing unit computing has increased as companies deploy more resources for artificial intelligence training and inference workloads.
CoreWeave Gains 20% as AI Cloud Demand Continues
CoreWeave also rallied following its quarterly results, with shares advancing about 20% to $108.40. The move exceeded Nebius’ 18% daily gain, although Nebius maintained a strong year-to-date performance after its latest earnings report.
CoreWeave generated approximately $2.5 billion in second-quarter revenue and reported a revenue backlog of about $104 billion. The backlog represents contracted future business from customers seeking access to the company’s GPU computing infrastructure.
The company also raised its full-year guidance after reporting the quarterly results. Management said available GPU capacity remained heavily committed as customers continued securing computing resources for artificial intelligence projects.
Cloudflare shares, meanwhile, traded around $307 and remained relatively stable during the session. Cloudflare’s main operations focus on content delivery, cybersecurity and edge computing services, while Nebius and CoreWeave have greater exposure to GPU-intensive AI cloud infrastructure.
GPU Capacity Drives Nebius and CoreWeave Growth
Spending on AI infrastructure has continued across major technology companies and enterprises as demand for computing capacity expands. Nebius and CoreWeave have increased capacity to serve customers seeking alternatives and additional resources beyond larger cloud providers such as Amazon Web Services, Microsoft Azure and Google Cloud.
Nebius’ customer prepayments provide another source of capital as the company builds additional infrastructure. The arrangements allow customers to reserve future capacity while providing Nebius with cash before the contracted computing services are fully delivered.
CoreWeave’s $104 billion backlog provides a separate measure of contracted demand for future computing services. Both companies have reported constraints around available GPU infrastructure as orders continue to consume existing and planned capacity.
Investors are also tracking whether contracted demand continues as companies expand their AI infrastructure. Backlog levels, customer prepayments and available computing capacity remain key operating measures for AI cloud providers as they commit capital to new data centers and GPU systems.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
