CoreWeave, other neoclouds rebound, as Crusoe CEO says recent selloffs overblown
CoreWeave and other neocloud stocks rebounded after recent selloffs, with CoreWeave rising 8% following a 30% monthly drop. Crusoe CEO Chase Lochmiller called the angst overblown, citing CoreWeave's $104B backlog. Competitors like Nebius, IREN, Cipher Digital, Core Scientific, and Applied Digital also saw gains. Crusoe, backed by Nvidia and Salesforce, operates AI infrastructure projects including the Stargate campus for Oracle and OpenAI.