US Stock Market Move | Cloud computing service providers bucked the trend and rallied in early trading; NEBIUS (NBIS.US) rose more than 7%.

On Thursday, cloud computing service provider NEBIUS (NBIS.US) bucked the trend and rallied in early trading, now up more than 7%; CoreWeave (CRWV.US) rose more than 3%. The computing power shortage is moving from "narrative" to "financial statements." Nebius has raised prices across the board for the second time this year, with H100 rental rates increasing by 17%-21%. Cloud providers' revenue and backlog orders are accelerating in tandem, with demand continuing to outpace supply. Meanwhile, CoreWeave is exploring a path that could better improve its economic returns: selling AI computing power with shorter lease terms. JPMorgan analysts believe this reflects customers' growing willingness to pay a premium to obtain scarce computing power in the short term.