Nvidia (NVDA) CEO Jensen Huang Spotlights CoreWeave and Nebius in AI Infrastructure Boom

Key Highlights

Table of Contents

Jensen Huang publicly praised CoreWeave and Nebius during Goldman Sachs conference, stating both companies are “doing fantastically”
CoreWeave delivered Q2 revenues of $2.58 billion, representing 112% annual growth, alongside a massive $104 billion backlog
Nebius achieved remarkable 454% year-over-year Q2 revenue growth reaching $582 million, with AI-cloud EBITDA margins hitting 50%
Nvidia invested $2 billion in both companies separately, aiming to deploy over 5 gigawatts of AI infrastructure before 2030
CoreWeave holds $33.8 billion in debt with a $626 million Q2 net loss, whereas Nebius slashed its adjusted net loss by 64%

At last week’s Goldman Sachs Communacopia + Technology Conference, Nvidia CEO Jensen Huang delivered a strong vote of confidence for two emerging AI cloud infrastructure providers. He specifically highlighted CoreWeave and Nebius Group as organizations successfully addressing critical challenges in AI infrastructure deployment—namely securing land, power capacity, and data center facilities.

According to Huang, the primary constraint facing AI expansion has shifted away from semiconductor availability. The real challenge now lies in securing physical infrastructure including reliable power grids, suitable land parcels, and fully operational facilities.

“They secure land, power, and shell for us that the CSPs have already exhausted,” Huang explained, describing these neocloud operators.

Despite anticipating approximately 70% revenue growth year-over-year for the upcoming year, Nvidia faces demand exceeding 100% growth. Neocloud providers are instrumental in bridging this infrastructure gap.

CoreWeave: Explosive Revenue Growth Amid Heavy Debt Load

CoreWeave disclosed Q2 revenues totaling $2.58 billion, representing substantial growth from the previous year’s $1.21 billion. The company’s revenue backlog expanded dramatically to $104 billion, marking a 246% annual increase.

CoreWeave, Inc. Class A Common Stock, CRWV

In January, Nvidia deployed a $2 billion investment in CoreWeave, acquiring equity at $87.20 per share. The strategic partnership includes collaboration on developing more than 5 gigawatts of AI infrastructure facilities by the decade’s end.

However, financial challenges persist. CoreWeave posted a $626 million net loss during Q2 while carrying approximately $33.8 billion in total debt obligations as of June 30. Additionally, the company increased its 2026 capital expenditure projections to a range between $35 billion and $39 billion.

CoreWeave shares have appreciated roughly 18% year-to-date in 2026, though this performance significantly lags behind Nebius.

Nebius: Exceptional Growth With Improving Profitability

Nebius posted exceptional Q2 revenue growth of 454% year-over-year, reaching $582 million. The company’s AI-cloud adjusted EBITDA margin achieved 50%, while its contracted power capacity guidance exceeded 4 gigawatts.

Nvidia allocated $2 billion to Nebius in March via a pre-funded warrant agreement covering 21.1 million shares.

Nebius has also secured substantial commitments from leading technology corporations. According to SEC disclosures, the company has a potential $27 billion five-year infrastructure agreement with Meta Platforms, plus GPU-cloud commitments from Microsoft valued up to $17.4 billion extending through 2031.

During Q2, Nebius decreased its adjusted net loss by 64% to $33.2 million. The stock has skyrocketed 146% in 2026.

The neocloud infrastructure sector produced $25 billion in revenue during 2025 and is forecasted to expand to $400 billion by 2031, according to Synergy Research Group projections. This represents a 58% compound annual growth rate.

Bank of America research indicates that the collective backlog from Microsoft, Oracle, Amazon, and Google reached $2.3 trillion at Q2’s conclusion.

Both organizations operate within a rapidly expanding market segment. CoreWeave provides superior backlog transparency and scale. Nebius demonstrates accelerated growth rates and improved profitability metrics. Industry analysts anticipate robust expansion trajectories for both companies throughout the coming years.

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