Jim Cramer Backs CRWV: 'If You're Going For Neoclouds, Only One I Like Is CoreWeave'

• CoreWeave is significantly larger by revenue, posting $2.58 billion in Q2 compared with $582 million for Nebius and $137.2 million for IREN.
• The stocks have also diverged in 2026, with Nebius roughly tripling, CoreWeave up about 18% and IREN gaining around 10%.
• Cramer’s preference for CoreWeave comes as investors weigh the neoclouds’ rapid growth against heavy capital spending and profitability concerns.

CNBC’s Jim Cramer is backing CoreWeave Inc. as his preferred play among the fast-growing group of so-called neocloud companies, even as rivals IREN Ltd. and Nebius Group N.V. continue to post strong growth and deliver big gains for investors this year.

Cramer made the call in the “Lightning Round” segment of CNBC’s “Mad Money,” after he was asked about IREN stock. “If you’re going to do neoclouds, the only one I like is CoreWeave,” Cramer said.

The endorsement comes after CoreWeave delivered another strong quarter. The AI cloud provider reported second-quarter revenue of $2.58 billion, more than double from a year earlier. Backlog grew 56% sequentially to $104 billion in Q2.

CoreWeave shares have gained about 18% year to date, outperforming the S&P 500’s roughly 13% advance. CoreWeave’s topline is far greater than competitors IREN and Nebius.

Cramer’s preference comes despite IREN’s rapid transformation from a Bitcoin miner into an AI infrastructure provider. IREN reported fiscal fourth-quarter revenue of $137.2 million, while AI Cloud revenue jumped 110% sequentially to $70.5 million. 

IREN shares have gained roughly 10.2% in 2026, although the stock faced pressure following its latest results.  

Meanwhile, Nebius has been one of the biggest winners in the neocloud trade. Its Q2 revenue surged a staggering 454% to $582 million, while adjusted EBITDA reached $236.2 million. The results sent shares sharply higher, with Nebius stock roughly tripling in 2026.  
 

The divergent stock performances highlight the increasingly crowded AI infrastructure trade, with investors weighing explosive demand for computing capacity against heavy capital spending, financing needs and profitability.

Cramer’s latest comments suggest that, for now, he sees CoreWeave as the strongest combination of growth and investment appeal among the neocloud names.

On Stocktwits, the retail sentiment was ‘bearish’ for CRWV and NBIS, and ‘bullish’ for IREN. “$IREN Buy zone is slowly closing for me. Great opportunities for the ones that care. Still stacking for now,” said a trader. 

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