CoreWeave and Nebius reported sharp second-quarter 2026 growth as demand for AI computing outpaced available power and hardware. CoreWeave revenue rose 112% year over year to roughly $2.58 billion, with contracted future revenue of $104 billion at June 30 and more than $25 billion in additional commitments secured early in the third quarter. Nebius reported revenue of $575 million to $582 million, up more than 450%, while its AI cloud segment grew more than 500% and reached a projected $3 billion annualized run rate. Both companies serve major hyperscalers, including through multibillion-dollar contracts with Meta and Microsoft, and each received a $2 billion investment from Nvidia. Nebius will raise on-demand prices for various Nvidia GPUs by 17% to 21% from October 1, 2026, while CoreWeave is reportedly signing new capacity at higher prices. Analysts project the pricing environment could improve operating margins by 500 to 1,000 basis points for both providers. CoreWeave shares rose 19% after its results, and Nebius gained 34%. CoreWeave is targeting 8 gigawatts of data-center capacity by 2030, while Nebius plans for 5 gigawatts by the end of 2026.