Micron reported record numbers for its fiscal third quarter and indicated that rapid growth will be sustained over the next few years.
- NBIS stock rose 4.4%, while CRWV shares advanced 4%.
- Both Nebius and CoreWeave were recently added to the Nasdaq-100 index, increasing their exposure to a battery of large institutional investors.
- Stocktwits sentiment for NBIS and CRWV was ‘bearish’ early Thursday.
Neocloud stocks, including Nebius and CoreWeave, climbed in early premarket trading Thursday after Micron’s strong quarterly results reinforced confidence that AI demand and cloud infrastructure spending will remain robust over the coming years.
NBIS stock rose 4.4%, while CRWV shares advanced 4%. Shares of upcoming AI cloud companies Applied Digital and IREN Ltd gained 3.4% and 3.8%, respectively.
Micron reported record numbers for its fiscal third quarter – revenue rose 346% year over year, and gross margin more than doubled to 84.9% – and indicated that rapid growth will be sustained over the next few years.
Micron Earnings Boost
Micron management said that demand for its memory chips and constrained supply conditions would persist through at least 2028.
AI chipmakers such as Nvidia and Advanced Micro Devices, along with hyperscalers including Amazon, Microsoft and Google, are among Micron’s largest customers for memory products.
Micron’s strong outlook suggests that the cloud infrastructure buildout is accelerating, signaling continued expansion in data center capacity and sustained demand for AI and cloud services.
Both Nebius and CoreWeave recently got added to the Nasdaq-100 index, which increased their exposure to a battery of large institutional investors. Still, the stocks dropped over Tuesday and Wednesday, promoting some retail traders to buy on the dip.
NBIS, CRWV Retail View, Stock Move
“$NBIS tomorrow should rally above 290. The drop was a great opportunity to buy more shares. Soon it will get a new ATH above 300,” said a trader. Another wrote on the CoreWeave stream: “the ‘real’ up move on this stock is still 2-3 months away....it will gradually move higher within a few weeks though.”
However, retail sentiment for both Nebius and CoreWave on Stocktwits dropped to ‘bearish’ on Thursday, tracking declines in the stocks in the last couple of days.
NBIS stock hit an all-time high on Monday, while CRWV stock is 26% down from its peak in early May. The stocks are up 210% and 41% year to date, respectively.
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