Last week, stocks generally struggled. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) fell 1.5% from March 6 to March 13, and Invesco QQQ Trust (NASDAQ:QQQ) dropped 1.01% over the same stretch.
Yet, one segment of the market rallied. Neocloud stocks saw big gains across the board last week. MARA Holdings, IREN ltd, and CorwWeave led gainers in the space. Meanwhile, Meta’s $27 billion deal with Nebius is leading to the rally to extend into Monday’s trading. Let’s look at sector performance and why stocks across the neocloud space are suddenly rallying again.
| Ticker | Mar 6 Close | Mar 13 Close | Weekly Change |
|---|---|---|---|
| MARA | $8.01 | $9.32 | +16.35% |
| IREN | $36.70 | $41.58 | +13.30% |
| CRWV | $72.99 | $81.11 | +11.12% |
| CORZ | $14.86 | $16.49 | +10.97% |
| APLD | $25.14 | $27.05 | +7.60% |
| WULF | $13.75 | $14.67 | +6.69% |
| CLSK | $9.21 | $9.76 | +5.97% |
| CIFR | $13.62 | $14.08 | +3.38% |
| HUT | $47.07 | $48.32 | +2.66% |
| RIOT | $14.17 | $14.04 | -0.88% |
MARA Surges 16% on Bitcoin Momentum and Technical Squeeze
MARA Holdings (NASDAQ:MARA) led the group with a 16.35% weekly gain, closing Friday at $9.32. The move came despite a messy fundamental backdrop: Marathon’s most recent quarterly report showed revenue of $202.3 million against an anticipated $250.7 million. Analysts at Zacks assigned a #4 (Sell) rank citing substantial downward earnings revisions, and the consensus sits at “Hold” with an average price target around $20.
The stock surged 13.71% intraday on March 13 before closing up 6.4%. News sentiment remained predominantly bearish through the week, pointing to technical momentum and short-covering as the primary drivers. Bitcoin’s climb toward $70,000 gave miners a lift, and MARA, with its large BTC holdings, tends to amplify those moves in both directions.
Keep in mind that MARA remains more levered to Bitcoin’s price than other names on this list that have begun their pivot to AI in earnest. As such, MARA Holdings isn’t seeing quite as large a bounce today on the news of Nebius’ large deal with Meta. Shares are up .6% in late trading.
IREN Jumps 13% After Ordering 50,000 Nvidia GPUs
IREN (NASDAQ:IREN) gained 13.30% for the week, closing at $41.58. The catalyst: IREN announced an order for 50,000 Nvidia B300 GPUs, expanding its AI compute fleet to approximately 150,000 chips total. The build-out is projected to generate over $3.7 billion in annualized AI cloud revenue once fully operational by late 2026. To fund the purchase, the company launched an at-the-market equity offering of up to $6 billion, which knocked shares down roughly 5% in pre-market trading on March 11 on dilution concerns.
Retail investors on Reddit and Stocktwits quickly flipped bullish, viewing the GPU procurement as a necessary investment in a capacity-constrained market. Reddit activity on IREN peaked on March 12 with 640 upvotes and 102 comments in a single morning session. The stock recovered from the offering-day dip and ran through the rest of the week as the growth narrative reasserted itself.
IREN is up another 8.3% today.
CoreWeave Rebounds 11% Despite Securities Lawsuit Overhang
CoreWeave (NASDAQ:CRWV) added 11.12% last week, closing at $81.11. The rebound came despite active legal noise: multiple law firms reminded investors of a securities fraud class action deadline on March 13, alleging CoreWeave made misleading statements about its ability to meet customer demand and its reliance on a single data center supplier. CoreWeave’s CDO also sold 481,245 shares on March 9 through a pre-planned 10b5-1 program.
None of that derailed the stock. CoreWeave’s Q4 results showed $1.572 billion in revenue, up 110% year-over-year, and a revenue backlog of $66.8 billion. CEO Michael Intrator framed it plainly: “2025 was a defining year for CoreWeave as we became the fastest cloud in history to reach $5 billion in annual revenue.” Investors appear willing to look past near-term losses and litigation risk given that backlog figure.
CoreWeave shares are up 6.1% today.
What’s Moving Today: WULF Leads, NBIS Surges on Meta Deal
TeraWulf (NASDAQ:WULF) is today’s standout, up 13.33% to $16.63. Director Michael Bucella made four separate open-market purchases between March 6 and March 11, and institutional buyers Fortress Investment Group and Azora Capital both disclosed new positions this week. Keefe, Bruyette & Woods maintained an “Outperform” rating with a $23 price target on March 11, while Morgan Stanley carries an “Overweight” rating with a $37 target. TeraWulf now has 522 critical IT MW of contracted HPC capacity and roughly $12.8 billion in long-term contracted revenue, backstopped by Google credit enhancement.
Nebius Group (NASDAQ:NBIS) is surging 12.56% today to $127.14 on news of a new deal with Meta. The AI cloud company carries a $1.25 billion annualized run-rate revenue and is targeting $7 to $9 billion in ARR by year-end 2026.
Top Gaining Stocks
Top Losing Stocks