Nvidia-Backed Nebius Grows 684% in Q1 as CoreWeave Hits $100B Backlog
NVDA•Nvidia-backed Nebius posted 684% year-over-year Q1 revenue growth and projects $11.2 billion in revenue by 2027. CoreWeave achieved 112% Q1 growth and holds a $100 billion order backlog, though both firms face shareholder dilution risks from planned capital raises.
1. Nebius Q1 Performance
Nebius, a cloud infrastructure provider backed by Nvidia, reported a staggering 684% increase in Q1 revenue year-over-year. The company forecasts its growth trend to continue, targeting $11.2 billion in annual revenue by 2027 based on rising enterprise AI workloads.
2. CoreWeave Expansion and Backlog
CoreWeave delivered 112% revenue growth in Q1 and has amassed a $100 billion order backlog driven by demand for GPU-powered cloud services. Its capacity expansion and long-term contracts position it as a major AI infrastructure player in Nvidia’s ecosystem.
3. Dilution Risks from Capital Raises
Both Nebius and CoreWeave rely on regular funding rounds to scale GPU capacity, raising concerns over potential shareholder dilution. Investors are monitoring upcoming capital raises that could impact equity stakes and valuation multiples.
4. Implications for Nvidia
Strong growth at Nebius and CoreWeave underscores robust demand for Nvidia’s GPUs and AI computing platforms. While these partners accelerate infrastructure deployment, Nvidia’s own data center segment faces pressure to sustain comparable growth rates.
