Specialist providers like CoreWeave rent Nvidia GPU clusters powering the AI boom

Neoclouds are AI-focused Infrastructure-as-a-Service (IaaS) providers, such as CoreWeave and Nebius Group, that rent clusters of Nvidia GPUs to AI labs, startups, and Big Tech firms. These companies, which have deep roots in crypto—like CoreWeave starting as an Ethereum miner and Bitcoin miners now hosting AI data centers—have grown into listed companies with contracts worth billions. However, neocloud shares sold off in October 2026 after Gartner predicted over 80% of providers will cease independent operation by 2030.