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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Nvidia-Backed Fermus Wanted $30 Billion Valuation on Just $51 Million in Revenue
Firmus scrapped its IPO after seeking a $30 billion valuation despite generating just $51 million in fiscal 2026 revenue.
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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.
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Navigating the AI Boom: Bubble is NOT a Four-Letter Word
The article argues that while AI is being labeled a bubble by prominent investors like Ray Dalio and Michael Burry, five key data points suggest the market may be entering its explosive growth phase rather than nearing a peak. Current valuations remain reasonable compared to the dot-com era, retail sentiment is bearish (historically bullish for markets), and IPO activity is lower than during previous manias, suggesting the AI boom has significant room to run.