Nvidia-Backed Neoclouds Face a Test as IREN, CoreWeave and Nebius Stocks Slide
Top Nvidia-backed neocloud companies like IREN, CoreWeave and Nebius are facing a major rest as they remain in a bear market.
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CoreWeave had a busy week that included its entry into India and a sell-off tied to OpenAI’s revenue disclosure.
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Top Nvidia-backed neocloud companies like IREN, CoreWeave and Nebius are facing a major rest as they remain in a bear market.
Nebius, a Netherlands-based neocloud company providing AI infrastructure, has experienced remarkable growth since rebranding from Yandex in 2024. The company operates GPU-powered data centers and reported 351% revenue growth in 2025 and 529% growth in H1 2026. Analysts project continued explosive growth through 2028, with the stock potentially rising ninefold by end of 2030 if it meets estimates. However, investors should monitor its capital-intensive expansion strategy and rising debt levels.
Firmus scrapped its IPO after seeking a $30 billion valuation despite generating just $51 million in fiscal 2026 revenue.