CRWV, NBIS and IREN Post Growth and Cost Swings as AI Demand Soars
CoreWeave has doubled revenue year over year for seven straight quarters, but its cost of sales surged 180% last quarter, and it has racked up $1.64 billion in net losses since going public in late March. Nebius reported a 344% jump in quarterly COGS. IREN’s growth has stayed above 350%, with large planned AI cloud capacity increases. The AI boom is driving rapid data center buildouts.