CoreWeave, Nebius and Cerebras Grow Q2 Revenue as Losses Widen on AI Buildout
Updated
Updated · DatacenterDynamics · Aug 12
CoreWeave, Nebius and Cerebras Grow Q2 Revenue as Losses Widen on AI Buildout
3 articles · Updated · DatacenterDynamics · Aug 12
Summary
CoreWeave posted the biggest quarter of the three, with Q2 revenue rising to $2.575 billion from $1.212 billion while net loss widened to $626 million from $290 million.
Heavy capacity spending drove the pressure: CoreWeave spent $9.4 billion in Q2 capex, Nebius’ operating costs jumped to $758.2 million, and Cerebras expanded capacity live or contracted to more than 600MW.
Nebius delivered the fastest growth, with revenue up 454% to $582.3 million and AI cloud revenue up 514% to $575 million, though it still recorded a $190.4 million net loss.
Cerebras said GAAP revenue rose 74% to $180.1 million and cloud services revenue climbed 281% to $126.0 million, while net loss reached $450.4 million.
The results underscore a broader neocloud pattern: surging AI demand is lifting backlogs, inference workloads and power commitments, but profitability remains elusive as providers race to secure gigawatts of data center capacity.