CoreWeave rises 9.2%, Nebius Group 13.7% as neocloud stocks surge

The neocloud names are moving far harder than the hyperscalers they orbit, which suggests the rally is about appetite for AI compute capacity rather than a broad tech bid — the software ETF's fade from its early gain fits that read. The dispersion within megacap tech, with Microsoft lower while Meta and Oracle rise, reinforces that this is a selective trade rather than a tide lifting everything. Whether neoclouds can keep outperforming the hyperscalers on days when the broader index is merely steady is the open question.