CoreWeave, Nebius Post 112% and 684% Q1 Growth as AI Cloud Demand Outruns Big Tech
Updated
Updated · The Motley Fool · Jun 12
CoreWeave, Nebius Post 112% and 684% Q1 Growth as AI Cloud Demand Outruns Big Tech
3 articles · Updated · The Motley Fool · Jun 12
Summary
CoreWeave and Nebius reported Q1 revenue growth of 112% and 684%, far outpacing the largest cloud providers as companies rush to rent AI computing capacity.
That demand is coming even from major tech customers including Microsoft and Meta, which still turn to specialist AI cloud operators for extra capacity instead of building all of it themselves.
The surge still comes with a trade-off: neither company is expected to be profitable soon because both are spending heavily to expand data-center footprints.
Incumbents remain formidable—AWS grew 28%, Azure 40% and Google Cloud 63% in their latest quarters—showing AI cloud is already a profitable business even as smaller rivals chase faster upside.