Best GPU Neoclouds 2026: CoreWeave, Nebius, Lambda, Crusoe, and Groq Ranked by Published Pricing and Contracted Power

The ‘neocloud’ label now covers five companies with very different business models. CoreWeave and Nebius are public companies that publish quarterly results and file reports with the SEC (CoreWeave on Form 10-Q, Nebius as a foreign private issuer on Form 6-K). Lambda and Crusoe are private and heading toward IPOs. Groq has run GroqCloud on its LPU architecture since 2024; after licensing that technology to NVIDIA in December 2025, the independent Groq refocused entirely on inference-cloud infrastructure. This article compares them on what actually matters to a buyer: published pricing, deployed and contracted power, hardware roadmap, contract structure, and independent quality ratings.

TL;DR

• CoreWeave is the only Platinum-rated GPU cloud in SemiAnalysis ClusterMAX 2.0 and commands premium list pricing on H100, H200, and B200.
• Nebius is the only provider here publishing B300 on-demand pricing; Lambda publishes the lowest B200 on-demand rate.
• Lambda still publishes the cheapest on-demand B200 ($6.69/GPU-hr) but has no spot tier.
• Crusoe is the only provider here with AMD MI300X/MI355X on its rate card.
• Groq is now an NVIDIA Cloud Partner and plans to add NVIDIA GPU capacity alongside its LPU inference cloud.

1. Who these companies are in 2026

CoreWeave (Nasdaq: CRWV) reported Q2 2026 revenue of $2.575 billion, up 112% year over year, with a revenue backlog of roughly $104 billion. That backlog excludes more than $25 billion of new commitments added in early Q3. Active power reached 1.5 GW and contracted power reached about 3.7 GW as of June 30; CoreWeave’s data center page now states 4.2 GW+ contracted across 51 data centers. The company completed the industry’s first bring-up and validation of NVIDIA Vera Rubin NVL72 during the quarter. Net loss was $626 million, driven by $640 million in net interest expense. (CoreWeave Q2 2026 release, CoreWeave AI data centers page)

Full-year 2026 guidance is $12.4–13.2 billion in revenue and $35–39 billion in capex. Management expects more than 1.85 GW of active power by year end. (CNBC)

Nebius Group (Nasdaq: NBIS) reported Q2 2026 group revenue of $582.3 million, up 454% year over year. AI cloud revenue was $574.9 million, up 514%, with annualized run-rate revenue of $3.0 billion. The AI cloud segment posted a 49.7% adjusted EBITDA margin. Q2 capex was about $5.7 billion, and the company ended the quarter with $8.0 billion in cash. Nebius raised its year-end 2026 contracted power target to 5 GW and plans to deploy more than 1 GW per year starting in 2027.

Lambda is private. It closed a Series E of more than $1.5 billion led by TWG Global in November 2025 and a $1 billion senior secured credit facility (J.P. Morgan lead arranger) in May 2026. Michel Combes, former CEO of SoftBank International and Sprint, became CEO in May 2026; co-founder Stephen Balaban moved to CTO. Lambda has a multibillion-dollar, multi-year agreement with Microsoft covering tens of thousands of NVIDIA GPUs, including GB300 NVL72 systems. The Information has reported an IPO target of H2 2026, but no public S-1 exists as of this writing.

Crusoe is private. It raised a $1.375 billion Series E at a valuation above $10 billion in October 2025, led by Valor Equity Partners and Mubadala Capital. In July 2026, Bloomberg reported Crusoe was in talks to raise roughly $3 billion at a valuation near $30 billion. Crusoe builds the 1.2 GW Abilene, Texas campus for Oracle and OpenAI (the first Stargate site). In March 2026 it announced a separate 900 MW Abilene campus for Microsoft, bringing the full site to about 2.1 GW. On June 9, 2026, Crusoe said its contracted AI infrastructure reached 4.9 GW across five US campuses and Crusoe Cloud, with a development pipeline above 40 GW.

Groq launched GroqCloud in March 2024 around its LPU inference chip. It changed shape in December 2025, when NVIDIA signed a non-exclusive license for Groq’s inference technology in a transaction reported by CNBC at about $20 billion. Founder Jonathan Ross, president Sunny Madra, and other staff joined NVIDIA. Groq stayed independent, and GroqCloud kept running. Since then, Groq raised $650 million in June 2026 and a $350 million Series A in August 2026 at a $3.5 billion valuation, with planned NVIDIA participation. Groq now operates 13 data centers and expects to scale from 54 MW to 200+ MW in 2027. On August 12, 2026 it joined the NVIDIA Cloud Partner program and said it plans to bring NVIDIA accelerated computing online “in the future”; that GPU capacity is not yet a published service. Adam Winter is CEO; Alex Davis of Disruptive is Executive Chairman.

2. Published on-demand pricing (per GPU-hour, USD)

Prices below were read directly from each provider’s pricing page on August 21, 2026. CoreWeave lists per-node prices; per-GPU values are the node price divided by GPU count. CoreWeave’s page also shows the identical per-GPU figure as its “inference single GPU” price. Groq does not publish GPU-hour pricing; GroqCloud is priced per token, and NVIDIA GPU cluster access is a planned offering handled by sales. CoreWeave spot prices vary by region; the figures below are the North America rates.

What the table shows

CoreWeave charges a premium and publishes the most complete card. Its H100 rate of $6.16/GPU-hr is about 60% above Nebius and Lambda. SemiAnalysis reports CoreWeave commands roughly 10–15% more per GPU-hour than Nebius, Crusoe, Lambda, and Fluidstack on managed Slurm or Kubernetes clusters, and that its pricing sits closer to the big hyperscalers. CoreWeave is also the only one of the four publishing a GB200 NVL72 on-demand price.

Nebius undercuts CoreWeave on Blackwell and is the only one with B300 on-demand. Its B200 rate of $7.15 is below CoreWeave’s $8.60, and its $7.85 B300 rate has no published competitor in this group. Preemptible rates run roughly 45% below on-demand.

Lambda holds the cheapest published B200 instance at $6.69. Its 1-Click Clusters (16 to 2,000+ GPUs, 2-week to 1-year terms) are priced higher: $9.86, $9.36, and $8.87 per B200-hour at 16, 64, and 256+ GPUs respectively. Lambda has no spot tier. Third-party trackers note Lambda raised its H100 SXM rate from $2.99 to $3.99 over 2025–2026 as demand outran supply.

Crusoe is the only AMD option and the cheapest H200 at $4.29. Its H100 rate of $3.90 is close to Nebius and Lambda. B200, GB200, and MI355X require a sales conversation.

List prices understate the market. Nebius disclosed that its Q2 2026 deals averaged more than $20 million in annual contract value per MW, that the 2026 base is priced near $12 million per MW, and that Q3 short-term capacity deals are clearing above $40 million per MW. The company also ran its first capacity auction.

3. Deployed and contracted power

4. Hardware roadmap and access to next-gen silicon

Vera Rubin: CoreWeave says it completed the industry’s first bring-up and system-level validation of Vera Rubin NVL72 in Q2 2026. Nebius says it has received its first Vera Rubin NVL72 systems and is validating compute, networking, and orchestration ahead of production availability. Lambda was a GTC 2026 launch partner for NVIDIA’s Vera CPU and Quantum-X800 InfiniBand co-packaged optics. Crusoe announced launch support for the Vera CPU and NVIDIA Nemotron 3 models. None of the four publishes Rubin pricing yet.

Blackwell Ultra (B300 / GB300): Nebius is the only provider with a public B300 on-demand price. CoreWeave lists GB300 NVL72 and HGX B300 as contact-sales, with a B300 spot rate of $35.84 per 8-GPU node. Lambda’s Microsoft contract includes GB300 NVL72 systems. Nebius’s Microsoft contract was reported to cover more than 100,000 GB300 chips.

AMD: Crusoe is the only one of the five with AMD Instinct MI300X on its on-demand card and MI355X available via sales. CoreWeave, Nebius, and Lambda remain NVIDIA-only on their public pages. Groq’s LPU is the other non-NVIDIA accelerator in this group, but it is sold per token, not per GPU-hour.

Groq LPU and NVIDIA LPX: NVIDIA announced its LPX platform, incorporating licensed Groq inference technology, at GTC 2026. Groq says its capital will fund fit-out of existing data centers with LPX systems and NVIDIA GPU clusters. Groq’s own LPU remains the engine behind GroqCloud’s token API.

5. Contract structure and who the anchor customers are

Sources: Nebius 6-K on Meta agreement, Nebius 6-K on secured financing, DCD on Nebius–Meta, DCD on Lambda–NVIDIA

The Nebius–Meta structure is worth reading closely. The March 2026 agreement includes $12 billion of dedicated 5-year cluster orders starting early 2027. A further order gives Meta access to unsold capacity on specified clusters, and obliges Meta to buy that capacity if Nebius cannot sell it to others. That is effectively a floor on utilization for the covered clusters. (SEC 6-K)

6. Which provider fits which workload

Frontier-scale training (10,000+ GPUs, multi-year): CoreWeave and Nebius are the two public providers here with SEC-reported financial scale and demonstrated NVL72 rack-scale operating experience. CoreWeave has the reliability track record and Platinum rating. Nebius has better committed pricing and is selling 2027 capacity now. Both have Vera Rubin units in hand.

Mid-size training and fine-tuning (16–512 GPUs, weeks to months): Lambda’s 1-Click Clusters and Nebius’s on-demand B200/B300 are the most accessible. Crusoe’s H200 at $4.29 is the cheapest Hopper-class option for memory-heavy jobs.

Budget-sensitive experiments: Nebius preemptible H100 at $2.15 and CoreWeave spot H100 at $2.46 per GPU are the lowest published rates here. Lambda has no spot tier.

AMD GPU evaluation: Crusoe is the only choice in this group.

Low-latency inference at high token volume: GroqCloud’s per-token LPU endpoints remain the distinctive offering. Nebius Token Factory and Crusoe Managed Inference are the GPU-based alternatives with published per-token rates.

Buyers needing a public balance sheet: Only CoreWeave and Nebius publish quarterly results and file with the SEC. Both companies’ annual statements are audited; the Q2 figures used here are unaudited quarterly results.

Sources

1. CoreWeave, “CoreWeave Reports Strong Second Quarter 2026 Results,” Aug 11, 2026 — https://investors.coreweave.com/news/news-details/2026/CoreWeave-Reports-Strong-Second-Quarter-2026-Results/default.aspx
2. CNBC, “CoreWeave (CRWV) Q2 earnings report 2026,” Aug 11, 2026 — https://www.cnbc.com/2026/08/11/coreweave-crwv-q2-earnings-report-2026.html
3. CoreWeave pricing page — https://www.coreweave.com/pricing
4. Nebius, “Nebius reports second quarter 2026 financial results” (PDF), Aug 12, 2026 — https://assets.nebius.com/assets/72a8c258-bbb7-4df7-ab9d-8698f6cb88fc/PR.pdf
5. Nebius, “Letter to shareholders Q2 2026” (PDF), Aug 12, 2026 — https://assets.nebius.com/assets/a6ecfd85-a6cb-4967-8ef7-9a25bd261f9c/SHLQ226.pdf
6. Nebius pricing page — https://nebius.com/prices
7. Nebius Group Form 6-K (Meta agreement), Mar 2026 — https://www.sec.gov/Archives/edgar/data/1513845/000110465926027886/tm268879d1_6k.htm
8. Nebius Group Form 6-K (secured financing), Jul 2026 — https://www.sec.gov/Archives/edgar/data/0001513845/000110465926084452/tm2620683d1_ex99-1.htm
9. Lambda pricing page — https://lambda.ai/pricing
10. Lambda, “$1 Billion Senior Secured Credit Facility,” May 7, 2026 — https://lambda.ai/blog/lambda-closes-1-billion-senior-secured-credit-facility
11. Lambda, “Leadership Team” announcement, May 2026 — https://lambda.ai/blog/lambda-assembles-leadership-team-to-power-gigawatt-scale-ai-infrastructure
12. Lambda, Microsoft agreement, Nov 3, 2025 — https://lambda.ai/blog/lambda-announces-multibillion-dollar-agreement-with-microsoft-to-deploy-ai-infrastructure-powered-by-tens-of-thousands-of-nvidia-gpus
13. Crusoe pricing page — https://www.crusoe.ai/cloud/pricing
14. Crusoe, Series E announcement — https://www.crusoe.ai/resources/newsroom/crusoe-announces-series-e-funding
15. Crusoe, 900 MW Microsoft campus, Mar 27, 2026 — https://www.crusoe.ai/resources/newsroom/crusoe-announces-new-900-mw-ai-factory-campus-in-abilene-texas-to-support-microsoft-ai-infrastructure
16. Groq, NVIDIA licensing agreement, Dec 2025 — https://groq.com/newsroom/groq-and-nvidia-enter-non-exclusive-inference-technology-licensing-agreement-to-accelerate-ai-inference-at-global-scale
17. Groq, $650M raise, Jun 22, 2026 — https://groq.com/newsroom/groq-raises-usd650m-to-scale-its-ai-inference-cloud-business
18. Groq, $350M Series A, Aug 17, 2026 — https://groq.com/newsroom/groq-closes-usd350-million-series-a-building-the-world-s-leading-ai-inference-cloud
19. CNBC, NVIDIA–Groq deal, Dec 24, 2025 — https://www.cnbc.com/2025/12/24/nvidia-buying-ai-chip-startup-groq-for-about-20-billion-biggest-deal.html
20. SemiAnalysis, “ClusterMAX 2.0,” Nov 2025 — https://newsletter.semianalysis.com/p/clustermax-20-the-industry-standard
21. SemiAnalysis ClusterMAX CoreWeave review — https://www.clustermax.ai/cloudreview/coreweave
22. DCD, Nebius–Meta and capacity targets — https://www.datacenterdynamics.com/en/news/nebius-signs-3bn-deal-with-meta-says-current-available-capacity-is-sold-out-as-it-targets-25gw-by-end-of-2026/
23. DCD, Lambda pre-IPO funding report — https://www.datacenterdynamics.com/en/news/lambda-in-talks-to-raise-350m-in-pre-ipo-funding-report/
24. TechCrunch, Groq $350M pivot — https://techcrunch.com/2026/08/17/groq-raises-350m-to-fuel-its-pivot-from-ai-chips-to-neocloud/
25. SiliconANGLE, Crusoe $3B talks — https://siliconangle.com/2026/07/03/ai-data-center-builder-crusoe-reportedly-raising-3b-30b-valuation/
26. CoreWeave, AI data centers page (51 DCs, 4.2 GW+ contracted) — https://coreweave.com/ai-data-centers
27. Crusoe, “Contracted AI Infrastructure Capacity Approaches 5 Gigawatts,” Jun 9, 2026 — https://www.crusoe.ai/resources/newsroom/crusoes-contracted-ai-infrastructure-capacity-approaches-5-gigawatts-across-data-centers-and-cloud
28. Groq, “Groq Becomes an NVIDIA Cloud Partner,” Aug 12, 2026 — https://groq.com/newsroom/groq-becomes-an-nvidia-cloud-partner
29. Nebius Group Form 6-K, pricing of $5.0B convertible notes, Aug 20, 2026 — https://www.sec.gov/Archives/edgar/data/0001513845/000110465926098924/tm2623617d1_6k.htm
30. Newmark, $7.1B construction loan for Abilene JV — https://www.nmrk.com/insights/press-releases/newmark-facilitates-7-1-billion-construction-loan-to-develop-ai-data-center
31. Warren, Wyden, Blumenthal letter to DOJ/FTC, Feb 4, 2026 — https://www.warren.senate.gov/imo/media/doc/final_-_warren_wyden_blumenthal_letter_to_the_department_of_justice_and_the_federal_trade_commission_on_big_tech_reverse_acqui-hires.pdf

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