Three AI cloud providers reported revenue jumps and billion-dollar contracts, easing investor concerns over an AI spending slowdown.
CoreWeave, Nebius, and Supermicro posted robust quarterly earnings, driving share gains of up to 27% as demand for AI computing capacity remains high. Nebius reported $582.3 million in revenue, a 454% year-over-year increase, and secured four AI cloud deals averaging over $1 billion each.
Nebius spent $5.7 billion on capital expenditures, primarily for GPUs, while signaling it could sell out 2027 capacity but is reserving some for near-term demand. CoreWeave also saw revenue growth, reinforcing investor confidence in AI infrastructure spending despite broader market concerns.
Shares of Nebius surged 27%, while CoreWeave and Supermicro climbed 20% and 15%, respectively, as investors set aside AI bubble fears.