Neocloud shares climbed after CoreWeave and Nebius delivered strong quarterly results that reinforced demand for outsourced AI computing capacity, while also highlighting the heavy capital and financing costs behind the buildout. CoreWeave reported second-quarter revenue of $2.575 billion, up 112% from $1.212 billion a year earlier and slightly above the $2.56 billion analyst consensus, while adjusted EBITDA doubled to $1.51 billion and adjusted operating income reached $128 million, ahead of expectations for $66 million. The company posted a net loss of $626 million, with net interest expense rising to $640 million, but that figure landed at the low end of its guided range and helped ease immediate credit-market concerns that had intensified in recent weeks. CoreWeave raised its full-year 2026 revenue guidance to $12.4 billion-$13.2 billion from $12 billion-$13 billion, lifted its capital expenditure forecast to $35 billion-$39 billion from $31 billion-$35 billion, and guided for third-quarter revenue of $3.4 billion-$3.6 billion. Its contracted revenue backlog stood at about $104 billion as of June 30 and, including more than $25 billion of additional net new commitments signed in the opening weeks of Q3, reached about $129 billion as of Aug. 11. Nebius reported revenue of $582.3 million, up 454% and above roughly $574 million consensus, while adjusted EBITDA turned positive at $236.2 million. The move spread across AI infrastructure names including IREN, Hut 8, Applied Digital, Core Scientific, Cipher Mining, Galaxy Digital and TeraWulf, many of them former Bitcoin miners that have redirected power infrastructure toward GPU-as-a-service.