AI infrastructure names are leading the market higher on Wednesday, with a trio of catalysts reigniting the trade around GPU compute and onsite power. Nebius Group (NASDAQ:NBIS | NBIS Price Prediction) is up roughly 34% after its Q2 earnings report, CoreWeave (NASDAQ:CRWV) is following through about 19% higher, and Bloom Energy (NYSE:BE) is up roughly 12% on a fresh hyperscaler win.
Nebius: Earnings Blowout Reignites the AI Cloud Bull Case
Nebius reported Q2 2026 revenue of $582.3 million, up 454% year over year and ahead of the roughly $575 million consensus. GAAP EPS of -$0.68 topped the -$0.86 consensus, comfortably beating expectations. The Nebius AI Cloud segment drove the quarter with $574.9 million in revenue (up 514%) and adjusted EBITDA that swung to $285.7 million. Remaining performance obligations of roughly $37 billion underscore multi-year visibility (see the 6-K filing).
Wall Street was already leaning bullish, with an analyst target near $251 and 11 Buy or Strong Buy ratings against 1 Strong Sell. Today’s actual move blew past the 13% implied options print. The offset: three customers each represent 24%, 21%, and 14% of revenue, a concentration risk worth monitoring.
The biggest news to follow is that Nebius is currently seeing demand in the $40 to $50 million per MW range and is signing longer deals at rates significantly higher (in the range of $20M to $25M per MW) than it previously saw. With AI compute in ravenous demand and companies like OpenAI and Anthropic seeing exceptional economics from inference, Nebius is able to command much better pricing.
CoreWeave: $104B Backlog and NASDAQ-100 Entry Extend the Rally
CoreWeave posted $2.575 billion in Q2 revenue, up 112% year over year, with GAAP EPS of -$1.14 beating the -$1.45 consensus. Adjusted EBITDA reached $1.5 billion at a 59% margin, operating cash flow was $679 million, and the revenue backlog hit $104.2 billion. Management flagged more than $25 billion in net new commitments already added in early Q3, and the company was selected for the NASDAQ-100.
CEO Michael Intrator said “CoreWeave enters the second half of the year with more momentum than at any point in our history.” The offsets are real: free cash flow ran to -$5.74 billion on $6.42 billion in Q2 capex, and Q3 interest expense is guided to $860 million to $940 million. Consensus target sits near $138, with 26 Buy or Strong Buy ratings.
Bloom Energy: Nebius Names Bloom for 300 MW Vineland AI Site
The catalyst is fresh and specific. On its Q2 call, Nebius named Bloom as the behind-the-meter power partner for its planned 300-megawatt Vineland, New Jersey AI data center, with executives saying the switch to fuel cells “significantly enhances” the project and has “no significant impact” on timing, per 247wallst.com. Nebius reiterated a target of 5 gigawatts of contracted power by year-end 2026.
The win extends the story from Bloom’s July 28 report, when revenue rose 165.5% to $1.065 billion, product revenue jumped 215.4%, and FY26 revenue guidance was raised to $3.9 billion to $4.2 billion. CEO KR Sridhar said “Bloom is now a standard for AI onsite power.” A pending shareholder class action tied to scandium sourcing remains an overhang. Analyst target: roughly $274.
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