TLDR
- CRWV stock rose 19.3% on August 12, while Nebius shares surged 34.1% following their quarterly earnings reports.
- CoreWeave reported $2.575 billion in revenue, while Nebius posted $582.3 million, with both delivering only modest revenue beats.
- Investors focused on stronger AI computing prices, better contract margins, and improved capital recovery rather than headline revenue growth.
- Nebius secured four AI cloud contracts worth more than $1 billion each and reported sharply higher demand from new customers.
- CoreWeave raised prices by about 25% in July as AI computing capacity remained tight across both newer and legacy GPUs.
CoreWeave (CRWV) stock climbed 19.3% on August 12, while Nebius shares jumped 34.1% after both AI cloud providers reported quarterly results. Revenue beats were small, but investors focused on stronger pricing, contract quality, and faster capital recovery across new AI infrastructure deals.
CoreWeave, Inc. Class A Common Stock, CRWV
CRWV Stock Gains as Pricing Power Improves
CoreWeave reported April-to-June revenue of $2.575 billion, slightly above the market estimate near $2.56 billion. The company also raised prices by about 25% across its product range in July as demand remained firm.
CRWV stock also gained support from improving contract margins. CoreWeave said new contracts carried contribution margins 5 to 10 percentage points above recent deals. Higher prices and production demand supported those margins.
Nebius reported revenue of $582.3 million for the quarter, beating market estimates by roughly 1% to 2%. The company secured four major AI cloud contracts, with each carrying more than $1 billion in total contract value.
Contract values rose about fourfold from the prior quarter, while business from new customers increased more than ninefold. Nebius also said prices for older GPUs rose more than 30% from the previous quarter.
Upfront Payments Reduce Funding Pressure
Nebius spent about $5.7 billion on capital expenditure during the quarter. However, around 70% of its new contracts include upfront customer payments that cover 50% to 60% of related capital costs.
The company said this structure shortened the expected payback period for new projects to about one year and ten months. CoreWeave spent $9.4 billion on capital expenditure but also reported better economics on newly signed contracts.
AI Cloud Revenue Mix Expands
CoreWeave generated more than $400 million in combined annual recurring revenue from storage, CPU, networking, and software services. Its contracted annual recurring revenue from managed inference services rose from $1 million to more than $100 million in one quarter.
Nebius reported an adjusted EBITDA margin near 50% for its AI cloud business and 41% for the group. Both companies still posted net losses, leaving investors focused on future pricing, financing costs, project delivery, and free cash flow. For CRWV stock, results will depend on whether higher contract margins can offset interest costs and heavy infrastructure spending.
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