Jim Cramer said Tuesday that CoreWeave Inc.‘s (NASDAQ:CRWV) strength is lifting the broader neocloud group, questioning whether bearish sentiment toward Nvidia Corp. (NASDAQ:NVDA) can hold up.

Cramer Questions Nvidia Bears

“CoreWeave igniting all of the neo-clouds… Will the ‘long knives’ remain out for Nvidia after this???” the CNBC host said in a post on X, adding, “Sheath those bad boys.”

During CoreWeave’s second-quarter earnings call, CFO Nitin Agrawal said demand remains “exceptionally strong” across its customer base, with “demand from multiple customers for each GPU we bring online.”

CEO Mike Intrator said pricing and margins for Nvidia’s Blackwell and Vera Rubin chips are “setting new highs,” while the company’s near-term capacity remains “effectively sold out.”

Intrator added that contracts signed in the quarter carried contribution margins 5 to 10 percentage points above recent quarters, a dynamic he tied directly to customer demand for Nvidia-powered infrastructure.

Read Also: CoreWeave Says Data Center Moratoriums Won’t Stop AI Expansion: ‘They Are Going to Impact Where This Infrastructure Gets Built’

Nvidia’s Financing Push

Cramer has defended Nvidia through recent weakness, having called the stock’s selloff “absurd” last month and said he still owns the stock and hasn’t traded it.

On Monday, Nvidia teamed up with six major asset managers, including BlackRock Inc. (NYSE:BLK), Blackstone Inc. (NYSE:BX) and Goldman Sachs (NYSE:GS), to unlock more than $500 billion in AI infrastructure financing, with CEO Jensen Huang telling CNBC that Nvidia’s chips are now “revenue-generating assets” that are “productive, long-lived, fungible and flexible.”

CoreWeave Tops Estimates, Raises Full-Year Outlook

For the second quarter, CoreWeave posted an adjusted loss of $1.03 per share, narrower than the $1.22 loss analysts expected, according to Benzinga Pro, while revenue came in at $2.58 billion, edging past the $2.56 billion Wall Street forecast.

The company raised its full-year 2026 revenue guidance to a range of $12.4 billion to $13.2 billion, while guiding third-quarter revenue to a range of $3.45 billion to $3.6 billion.

Price Action: Shares rose 2.42% on Tuesday to close at $90.32 and gained 18.52% further in extended trading on the news of the quarterly results.

Benzinga edge rankings indicate CoreWeave stock has a Momentum score in the 6th percentile and a negative price trend across the short, medium, and long term.

Read Also: NVIDIA to Report Q2 Earnings Later in August—Crypto Prediction Market Wagers on NVDA Closing Above $250 by Month-End

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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