In this article, we will look at the 5 Stocks That Can Still Skyrocket On The Neo Cloud Boom. Please visit 10 Stocks That Can Still Skyrocket On The Neo Cloud Boom to see an extended list and the methodology behind it.

5. CoreWeave Inc (NASDAQ:CRWV)

Potential Upside: 46.2%

On May 28, CoreWeave Inc (NASDAQ:CRWV) launched unified agentic AI features that help AI systems work independently and efficiently. These features will help AI models to learn from their own outputs and improve over time. The company believes that with reinforcement learning, production inference, and agent observability, agents not only become more reliable but also enhance capabilities.

Moreover, CoreWeave closed the loop between training and inference for enterprises. Chen Goldberg, executive vice president of Product and Engineering at CoreWeave, remarked,

“Enterprises that put agents in production first and let them continuously improve from real-world experience aren’t just building more reliable AI, they’re accelerating the path to superintelligence.”

Furthermore, CoreWeave has brought together several AI tools into one platform. This has made it easy for companies to train, run, and monitor AI agents more easily. Despite these developments, on June 8, Bernstein analyst Madison Rezaei reaffirmed a Sell rating on CoreWeave Inc (NASDAQ:CRWV) and assigned a target price of $67. The price target reflects 30% downside from current levels. The firm’s bearish view does not align with the median value on Wall Street, which reflects 46% upside from the current share price.

CoreWeave Inc (NASDAQ:CRWV) is a cloud infrastructure technology company in the US. It offers its product, the CoreWeave Cloud platform, which helps businesses manage large-scale AI systems more efficiently. The company also provides services like GPU and CPU computing, data storage, networking, and AI development tools. It was founded in 2017 and is based in Livingston, New Jersey.

4. Nvidia Corporation (NASDAQ:NVDA)

Potential Upside: 46.4%

According to CNN’s compilation of analyst price targets, Nvidia Corporation (NASDAQ:NVDA)  stock has a median target price of $300, which reflects a further 46% upside from the current share price. The AI tailwind has strengthened as the use of AI agents increases, reflecting positive analyst sentiment regarding accelerated computing stocks.

NVIDIA continues to dominate GPU shipments over its main rival, AMD. The company sees increasing demand for its Grace Blackwell systems, including the GB300 and B300. The demand continues to grow despite several customers indicating that these are becoming more difficult to source. Wedbush analyst Matt Bryson recently remarked,

“We do not recall availability issues this late in an NVDA accelerator cycle since Ampere/Hopper, a result that to us suggests demand is lifting at a more rapid pace than previously expected.”

The firm believes NVIDIA is best situated in the entire technology ecosystem in terms of current supply chain positioning. Despite supply constraints, which remain a primary reason for availability issues, the company moved ahead of its rivals in acquiring DRAM and HBM supply for 2026 and has likely already done the same for 2027.

NVIDIA Corporation (NASDAQ:NVDA) is a fabless semiconductor and AI computing company that designs GPUs, AI accelerators, Application Programming Interfaces (APIs), and system-on-a-chip units. Through its CUDA ecosystem, the company enables industries ranging from autonomous vehicles to scientific research by advancing AI, accelerated computing, and data center infrastructure.

3. IREN Ltd (NASDAQ:IREN)

Potential Upside: 49.9% 

On June 3, IREN Ltd (NASDAQ:IREN) reported that it had signed a transmission connection agreement for an 800 megawatt data center in South Australia. This is the company’s first data center in Australia and shows how the firm is aggressively expanding its data center footprint. The news comes after it already collaborated with Dell to acquire Blackwell GPU systems for its data centers.

This isn’t the only partnership the company has announced recently. On May 11, JP Morgan raised the firm’s target price on IREN Ltd (NASDAQ:IREN) to $46 from $39 and reiterated an Underweight rating on the stock. The upward price target revision came after the company announced a partnership with NVIDIA on May 7.

As part of the partnership, both companies plan to accelerate the deployment of next-generation AI infrastructure. Up to 5 gigawatts of Nvidia DSX-aligned AI infrastructure will be deployed across IREN’S global data center pipeline. The partnership will also focus on expanding access to Nvidia-powered AI computing for startups, AI native, and enterprise customers through DSX AI factories. IREN also offered Nvidia an option to purchase up to 30 million IREN shares over the next five years at a price of $70 per share. If Nvidia chooses to exercise this right, it would invest up to $2.1 billion, subject to certain conditions, including regulatory.

IREN Ltd (NASDAQ:IREN) operates in the data center business. The company owns and runs computing hardware, power systems, and data centers. It also mines Bitcoin by operating a peer-to-peer network of computers running Bitcoin software. The company was incorporated in 2018 and is based in Sydney, Australia.

2. Constellation Energy Corporation (NASDAQ:CEG)

Potential Upside: 54.2%

Constellation Energy Corporation (NASDAQ:CEG) is one of the energy companies solving the power bottleneck that AI infrastructure currently faces. The company’s stock has underperformed the broader market over the last year, but recent analyst sentiment and news suggest things might take a turn for the better soon. At the beginning of this month, Wells Fargo reaffirmed its price target on the stock to $516, which is also the highest price target on Wall Street.

In addition, US energy regulators advanced plans to restart the Three Mile Island nuclear power plant, allowing the company to transfer certain grid rights from its Eddystone plant to the Three Mile Island facility, which is intended to serve Microsoft’s data center energy needs. The regulatory progress on this front, as this is a 20-year agreement, should provide stable cash flow in the future. The company also has a similar 20-year power purchase agreement with Meta Platforms. Till the end of 2029, management expects the company to generate more than $20 billion in free cash flow, and lower regulatory hurdles will go a long way in helping it achieve that.

Constellation Energy Corporation (NASDAQ:CEG) operates as a producer and seller of energy products and services across the United States. It operates in the New York, Mid-Atlantic, ERCOT, Midwest, and Other Power Regions segments. The company provides energy-related products, electricity, natural gas, and sustainable solutions.

1. Applied Digital Corp (NASDAQ:APLD)

Potential Upside: 66.4% 

On May 27, B. Riley raised the firm’s target price on Applied Digital Corp (NASDAQ:APLD) from $53 to $66 and maintained a Buy rating on the stock. The price target implies 59% upside from current levels. This upside is consistent with the median Wall Street analysts’ upside of 66.4% as per 13 analysts covering the stock.

The firm portrayed its positive sentiment on digital infrastructure companies as it believes cloud companies are signing deals faster than ever before. Investors have placed greater value on companies that have secure access to power and can deliver projects on time. This is because local communities’ opposition, grid interconnection delays, and electrical equipment shortages were becoming problems for new developments. Applied Digital Corp (NASDAQ:APLD) has managed to deal with these issues relatively well, the analyst told investors in a research note.

In another positive news on June 8, the company announced it signed a new long-term lease at its Delta Forge 2 site. The agreement is with a US-based high-investment-grade hyperscaler. This is the company’s fifth AI data center campus overall.

Applied Digital Corp (NASDAQ:APLD) builds and operates digital infrastructure for AI and computing companies in North America. The company provides data centres and GPU computing solutions for businesses working in AI. It is headquartered in Dallas, Texas, and was founded in 2021 by Wes Cummins and Jason Zhang.

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