Neocloud
AI Cloud Infrastructure Pure Plays | Updated April 2026
Where Neocloud Sits in the Ecosystem
Neocloud companies operate GPU data centers purpose-built for AI. They sit between semiconductor/hardware suppliers and the AI/LLM layer, renting compute capacity to companies that build and run AI models.
The Problem
Training and running AI models requires massive GPU clusters that cost hundreds of millions of dollars. Most companies can’t afford to build their own — they need to rent AI compute.
The Solution
Neocloud companies build and operate GPU data centers specifically for AI workloads. They buy thousands of NVIDIA GPUs, build the infrastructure around them, and rent compute capacity to AI companies, enterprises, and researchers.
Why It Matters Now
Demand for AI compute far exceeds what traditional cloud providers (AWS, Azure, GCP) can supply. Neoclouds fill the gap with purpose-built AI infrastructure. Both companies are growing revenue 100%+ but burning cash on massive CapEx. Highest risk/reward in the universe.
CRWV
CoreWeave
AI-focused cloud provider with $66B+ backlog. Purpose-built GPU clusters for AI training and inference. Recently IPO’d. Revenue growing 400%+ but GAAP losses from massive infrastructure investment.
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NBIS
Nebius Group
AI infrastructure company spun from Yandex. GPU cloud, data labeling (Toloka), and autonomous driving (Avride). European and global AI compute provider.
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Source: SEC EDGAR annual and quarterly filings, company earnings conference calls and presentations.
Disclaimer: This page is for educational purposes only. NO investment advice.