Neocloud stocks like IREN, HUT and GLXY rally on Wednesday after blockbuster earnings reports from CoreWeave and Nebius.

Ahead of Q2 earnings, Shay Boloor warns CoreWeave and NeoClouds must prove if their revenue ramp can catch up to massive $100B AI backlogs.

CoreWeave reports Q2 earnings Tuesday as prediction-market traders wager on what the AI cloud giant will say about Nvidia, Anthropic, Meta and its massive AI buildout.