This CoreWeave Rival Could Double in 2026

• Nebius rents GPU clusters retired to artificial quality (AI) hyperscalers.

• It's a high-growth business, but CoreWeave and Nebius are profoundly unprofitable.

• Both stocks could surge further successful 2026 if the marketplace continues to judge successful that growth.

• 10 stocks we similar amended than Nebius Group ›

CoreWeave (NASDAQ: CRWV) is simply a well-known unreality infrastructure institution that galore artificial quality (AI) hyperscalers are farming retired computing loads to these days. Not each AI hyperscaler has the capableness they request to process each the workloads they privation to run, and having immoderate infrastructure that is owned by a antithetic entity is besides a astute determination due to the fact that it eliminates a azygous constituent of failure.

However, CoreWeave isn't the lone institution successful this space. There are respective different competitors, but my favourite is Nebius (NASDAQ: NBIS), which operates successful a akin tract arsenic CoreWeave and offers graphics processing units (GPUs) successful a full-stack level to springiness its clients everything they request to tally AI workloads connected its servers.

Nebius could beryllium primed for monster gains successful 2026, but is it a amended stake than CoreWeave? Let's find out.

Nebius was formerly a portion of Yandex, the Russian equivalent of Alphabet's Google. After sanctions came down from Russia's warfare with Ukraine, Yandex decided to divided its Russian and non-Russian assets, and Nebius was spun out. Nebius has been highly palmy successful its AI-focused unreality computing business, and it looks similar it's slated to roar heading into 2026.

In Q3, Nebius grew its gross by 355% twelvemonth implicit year. A stat similar that is capable to get immoderate maturation capitalist excited, but it gets better. In Q3, it had an yearly tally complaint of $551 million. By the extremity of 2026, that fig is expected to beryllium betwixt $7 cardinal and $9 billion!

That's immense maturation and shows however in-demand AI computing powerfulness is. It's truthful overmuch maturation that Nebius had to summation its declaration powerfulness from 1 gigawatt to 2.5 gigawatts. If Nebius delivers that benignant of growth, the upside for its banal could beryllium massive.

At 64 times sales, Nebius surely looks expensive, but that's the incorrect metric to use. The close 1 to usage is the guardant income metric, arsenic it factors successful the monster maturation Nebius expects.

Now, there's surely hazard here, arsenic there's nary warrant that Nebius delivers connected its projections. Still, by the extremity of the year, Nebius volition beryllium overmuch smaller than CoreWeave. CoreWeave is besides experiencing monolithic maturation and volition beryllium overmuch larger than Nebius astatine the extremity of 2026. I'd expect Nebius to travel a akin maturation trajectory arsenic CoreWeave arsenic agelong arsenic AI spending stays up, which could beryllium immense quality for the stock.