Neocloud stocks rallied in extended trading. CoreWeave and Nebius rose 5%; Iren and Cipher Mining rose 2%; Core Scientific, Galaxy Digital, and Hut 8 rose 1%.

AI computing provider CoreWeave topped analysts’ estimates with quarterly results and boosted its annual forecast, easing investor concerns about the debt-laden business suffering a slowdown.

Sales will be $13 billion to $13.3 billion this year, the company said in CoreWeave Reports Strong Third Quarter 2026 Results Tuesday. It previously projected a range of up to $13.2 billion.

Shares of CoreWeave rose about 2% in late trading Tuesday after the report was released. They were down 32% this year through the close.

The results offer some solace to the battered neocloud industry, which provides computing power to AI developers. Though the company has been signing new customers and adding infrastructure, its rapid spending and heavy debt load have worried investors.