Shares of neocloud providers Nebius and CoreWeave have tumbled from their 2026 highs after Meta Platforms hinted it may enter the cloud computing business, sparking a sell-off in July. Nebius, which had surged more than 200% in the first half of 2026, saw its year-to-date gain shrink to about 125% as of July 30, while CoreWeave's year-to-date rise fell to just 3%. Both companies count Meta and Microsoft as major clients, and the sell-off was triggered when Meta CEO Mark Zuckerberg suggested the company could offer excess computing capacity to others. However, during Meta's second-quarter conference call, Zuckerberg stated the company is receiving offers for compute at a significant premium and will still take all the capacity it can get, indicating demand remains strong. Wall Street analysts expect Nebius to achieve 540% revenue growth in 2026 and 238% in 2027, while CoreWeave is projected to grow 146% in 2026 and 99% next year, though both remain unprofitable as they invest heavily in data centers.
CoreWeave, Inc. Class A Common Stock
Microsoft Corporation
Nebius Group N.V.
Meta Platforms Inc.