CoreWeave Inc (NASDAQ:CRWV) and Nebius Group NV (NASDAQ:NBIS) shares are climbing Tuesday. Piper Sandler initiated coverage on the two leading AI neocloud providers. Here's what you should know.

CoreWeave (CRWV) stock jumped 12% as strong earnings from Microsoft, Amazon, and Meta signaled booming AI data-center demand ahead of Q2 earnings.

CoreWeave stock rose Tuesday after the artificial intelligence data center builder said it will expand in Asia-Pacific markets.