Oracle's AI Cloud Growth Lifts CoreWeave, Nebius and IREN

This article first appeared on GuruFocus. CoreWeave Inc. (CRWV, Financials), the AI cloud infrastructure company based around high-performance computing, climbed around 2.5% in premarket trade Friday as investors reacted to another strong signal for AI demand.Nebius Group and IREN also advanced, gaining approximately 2.4% and 1.4%, respectively. This was the catalyst from Oracle. Cloud infrastructure sales increased 121% year-over-year to $7.4 billion and the business inked more than $30 billion in new cloud contracts connected to AI.That's important beyond Oracle. CoreWeave, Nebius and IREN are all investing extensively in Nvidia GPUs, electricity and data centers.