Coreweave and Nebius Surge on Alphabet's Third-Party Computing Plan

According to Yonhap Infomax, Coreweave (NAS: CRWV) and Nebius (NAS: NBIS) rallied on July 22-23 after Alphabet executives announced plans to use third-party computing providers to address capacity shortages. Coreweave closed up 3.85% at $82.64 and rose an additional 3.45% in after-hours trading, while Nebius gained 0.57% to $218.16 before climbing 5.03% post-market.

Baird rated both companies as beneficiaries of rapid AI infrastructure expansion, issuing buy recommendations with price targets of $100 for Coreweave and $250 for Nebius. Additionally, Nvidia disclosed a 9.3% stake purchase in Nebius on the same day.