Here’s Why CoreWeave (CRWV) Is Dragging Down Nebius and Iren After Its Mixed Q4

FomoAnxiety · 2026-02-27T13:39:40+00:00

Shares of New Jersey AI cloud company CoreWeave fell about 13% following its mixed fourth-quarter results, reflecting ongoing profitability challenges in the neocloud sector. Peers Nebius and Iren also reported losses.

FomoAnxiety

2026-02-27 13:39:40

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New Jersey-based AI cloud company CoreWeave’s CRWV -0.39% ▼ shares plunged about 13% early Friday, extending the aftermarket sell-off seen the previous day as more investors digested its mixed fourth-quarter results.

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However, shares of its peers Amsterdam-based Nebius NBIS -1.17% ▼ and Sydney-based Iren Limited IREN +0.48% ▲ —both of which also reported losses in their recent earnings—dropped in pre-market trading. CoreWeave’s results further underscored the view that profitability remains a challenge for neocloud companies providing AI infrastructure such as data center capacity to hyperscalers.

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