IREN Rises 6%, Nebius Surges 10% as GPU Rental Rates Increase; CoreWeave Declines
GPU rental rates are rising due to increased demand for AI compute capacity, with Nebius Group (NASDAQ:NBIS) leading the change by announcing higher on-demand pricing effective October 1. This has driven a positive market reaction in companies associated with GPU infrastructure. Nebius's stock climbed 10% as it set new price benchmarks, while IREN Limited (NASDAQ:IREN) rose 6%, benefiting from inferred repricing potential despite not issuing its own rate change notice. In contrast, CoreWeave (NASDAQ:CRWV) fell by 2%, reflecting concerns over debt and locked-in capacity. The neocloud sector is experiencing a name-by-name repricing rather than broad-based growth in the data center industry. The Global X Data Center & Digital Infrastructure ETF (DTCR) rose slightly, while the Invesco QQQ Trust (QQQ) gained 1.62%, indicating broader tech market strength.
Tickers: $CRWV $IREN $NBIS $QQQ