Public Neocloud Stocks Ranked: CRWV, NBIS, IREN and Others

Every neocloud on this list

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.
Ticker: Exchange and ticker symbol for listed companies.
Score /100: Composite score out of 100: ClusterMAX tier 30%, contracted power 20%, contracted backlog 15%, capital raised 15%, GPUs 10%, named customers 10%. A signal the company does not disclose scores 0.
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.
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.
Backlog $M: Contracted revenue backlog, remaining performance obligations or total contracted value as the company states it, in USD millions.
Quarterly revenue $M: Latest reported quarterly revenue, in USD millions, from the company's results release or filing. Company-level unless the note says otherwise.