Nebius Vs. CoreWeave: Nvidia-Backed AI Cloud Stocks Battle For Supremacy

In the Nvidia Corp NVDA-backed AI infrastructure race, Nebius Group NV NBIS and CoreWeave Inc CRWV are vying for supremacy. With explosive growth and distinct strategies, this battle hinges on fundamental strengths and technical signals.

Here's an investor-focused breakdown of which stock might outrun the other.

Fundamental Face-Off: Cash Vs. Risky Bets

Nebius wields a financial fortress: $2.4 billion in cash, zero debt, and a disciplined, demand-driven data center rollout. It’s $106.21 million in TTM revenue (385% YoY growth) trails CoreWeave's $1.73 billion (420% YoY growth), but Nebius' diversified client base—spanning European startups, enterprises and governments—shields it from overreliance risks.

CoreWeave's revenue engine is turbocharged, with $1.28 billion in TTM gross profit and $923.84M EBITDA, but its $8 billion debt load and $264 million first-quarter interest expenses underscore the risk.

Meanwhile, 77% of CoreWeave's projected 2024 revenue is concentrated among just two clients, with Microsoft Corp. MSFT alone accounting for 62%. This high client concentration exposes the company to significant risk should either client scale back or terminate their business.

Nebius, on the other hand, reported a negative EBITDA of $95.01 million, reflecting substantial investments in expansion. However, the company's ambitious target of reaching $1 billion in annual recurring revenue by late 2025 suggests a clear trajectory toward improved profitability.

Geopolitically, Nebius rides Europe's "digital sovereignty" wave, bolstered by its Yandex roots and Nvidia Blackwell Ultra GPU deployments in the UK, Finland, and beyond.

CoreWeave, U.S.-centric, faces tariff and concentration risks.

Technical Face-off: Momentum Meets Overbought Signals

Chart created using Benzinga Pro

Read Also: CoreWeave (CRWV) Stock Soars Over 14% Today: What’s Going On?

CoreWeave's chart is a rocket: up 177.14% in a month and 29.42% in five days, with its eight-day simple moving average (SMA) ($143.06) and 20-day SMA ($112.70) screaming bullishness.

Its moving average convergence/divergence (MACD) indicator at 25.26 (above a signal line at 21.37) confirms momentum. Still, the relative strength index (RSI) reading of 71.42 flags overbought territory, hinting at a potential breather.

Chart created using Benzinga Pro

Nebius, up 57.71% monthly and 43.39% in five days, shows stronger short-term velocity. Its eight-day SMA ($43.55) and 20-day SMA ($40.12) are climbing, with MACD (5.12, above signal 3.96) supporting the uptrend.

However, NBIS's RSI (79.77) is deeper in overbought terrain, suggesting caution for latecomers. NBIS's 50-day SMA ($30.10) lags CRWV's ($72.87), but its 200-day SMA ($32.37) indicates a steadier long-term base.

The Investor's Play

CoreWeave's revenue dominance dazzles, but its debt and client risks loom large.

Nebius, with a valuation gap (1.7x market cap growth vs. CoreWeave's 2.6x since March 2025), offers 50% upside potential to close the ratio.

Technically, both are overstretched, but Nebius' geopolitical tailwinds and cash-rich balance sheet make it the sharper short-term pick.

For long-term bulls, Nebius' European expansion edges out CoreWeave's debt-laden sprint.

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