Nebius, born from the international spin-off of Yandex and now based in Amsterdam, joined the Nasdaq-100 in June 2026 with Nvidia’s backing and a contract with Meta. OVHcloud remains Europe’s leading sovereign cloud provider, having acquired Gladia and signed a partnership with SambaNova for inference. CoreWeave dominates the neocloud segment with contracts at Meta and Anthropic, but is heavily financing its GPU purchases through debt and shareholder dilution. Oracle has signed a major agreement with OpenAI and participates in the Stargate project, requiring investments of several tens of billions of dollars. DigitalOcean stands out for its profitability while most of its competitors remain in deficit.
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