Nvidia reportedly reclassified CoreWeave as a Hyperscaler to hide NeoCloud concentration
SumitGup · x · 2026-11-15
An unverified claim says Nvidia, worried NeoCloud revenue exceeded 50% of total, reclassified CoreWeave as a "Hyperscaler" starting Q2, diluting reported concentration. Before/after charts show Hyperscaler share jumping from 50% to 55–69% across FY26 Q3–FY27 Q2. Hyperscale revenue figures ($4.8B, $8.4B, $5.2B for FY26 Q3–FY27 Q1) reportedly match CoreWeave's spend. The deeper trend: hyperscalers are shifting capex from buying Nvidia chips to building their own silicon, raising Nvidia's reliance on NeoCloud survival.
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