IREN Limited stock gained on Wednesday, August 12, 2026, as quarterly results from CoreWeave Inc. and Nebius Group N.V. boosted artificial intelligence infrastructure sector sentiment.
Nebius posted $582.3M revenue; CoreWeave raised FY guidance to $12.4-13.2B with $104B backlog. Sold-out GPU capacity signals sustained pricing power and budget pressures—CTO teams face multi-year vendor lock-in and elevated capex.
Nebius Group N.V. (NASDAQ:NBIS) stock increased 15.67% after posting revenue of $582.3 million.
Earnings Reports Exceed Expectations
CoreWeave raised full-year guidance to between $12.4 billion and $13.2 billion, with backlog reaching $104 billion.
Nebius Group reported positive adjusted EBITDA of $236.2 million. Both companies reported that near-term capacity is sold out.
GPU Infrastructure Demand Rises
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