CoreWeave's IPO One Year On: AI Spending Concerns Fuel Underperformance

CoreWeave's stock has underperformed rival Nebius since its IPO last year due to heavy spending on AI and supply constraints. Nebius has a clean balance sheet and hasn't gone as far as CoreWeave in building infrastructure. CoreWeave shares have doubled to over $85, while Nebius shares have risen more than 350% and are near their record high. The companies are neocloud providers for AI hyperscalers.