Neoclouds by contracted power
11 neoclouds state contracted, secured or active power, 21.96 GW contracted between them. Crusoe (6 GW), IREN (5 GW), CoreWeave (4.6 GW) lead. Reported active power includes: CoreWeave 1.7 GW, Crusoe 1 GW, Core42 150 MW. Power is 20% of the composite score.
| Ownership | |||||||
|---|---|---|---|---|---|---|---|
| Crusoe | 6,0001 | 1,0001 | 23 | Bronze | 140,0001 | private | 2026-11-11 |
| IREN | 5,0001 | — | 63 | Underperforming | 20,3001 | public | 2026-11-11 |
| CoreWeave | 4,6001 | 1,7001 | 13 | Platinum | 132,5001 | public | 2026-11-11 |
| TensorWave | 2,0003 | — | 55 | Silver | — | private | 2026-11-11 |
| Together AI | 2,0001 | — | 94 | Bronze | — | private | 2026-11-11 |
| Nscale | 1,3701 | — | 46 | Unavailable | 103,4001 | private | 2026-11-11 |
| Firmus | 9001 | — | 74 | Silver | — | private | 2026-11-11 |
| ChronoScale | 541 | — | 394 | — | — | public | 2026-11-11 |
| WhiteFiber | 401 | 401 | 163 | Underperforming | 7291 | public | 2026-11-11 |
| Core42 | — | 1501 | 104 | Participation Ribbon | — | subsidiary | 2026-11-11 |
| OVHcloud | — | 1401 | 254 | Underperforming | — | public | 2026-11-11 |
Every neocloud on this list
Full rankingHow to read the columns
Methodology- Contracted power MW
- Power the company states as contracted, secured or committed in its portfolio, in MW. Speculative pipeline and planned campuses are excluded; the power note quotes the company's own word for it.
- Active power MW
- Power the company states as active, live, operational or managed today, in MW.
- Rank
- Position by composite score, computed at build time from the signals below with the weights on /methodology/. Ties share the higher position. Never set by hand and never for sale.
- ClusterMAX
- Tier in SemiAnalysis ClusterMAX 3.0 (23 Sep 2026), the public hands-on rating of GPU clouds. Medal tiers run Platinum, Gold, Silver, Bronze; Participation Ribbon sits between Bronze and Underperforming. Underperforming and Unavailable are the two groups SemiAnalysis lists under "Not Recommended": Unavailable covers providers it could not test or judged too small to rate. Empty when the provider is not listed.
- Backlog $M
- Contracted revenue backlog, remaining performance obligations or total contracted value as the company states it, in USD millions.
- Ownership
- Publicly listed, privately held, or a subsidiary of another company.