Jim Cramer Prefers CoreWeave (CRWV) Over Nebius (NBIS) — Is the Valuation Gap the Reason?

What happened: On September 30, Jim Cramer said on Mad Money that he likes CoreWeave (CRWV) more than Nebius (NBIS), calling Nebius a very good company but saying its move troubles him. Key numbers: CoreWeave Q2 revenue $2.575 billion, up 112% year over year. Why it matters: Cramer's preference rests on CoreWeave's scale and backlog, while Nebius trades at a much higher valuation. Nebius' enterprise-value-to-revenue multiple is nearly four times CoreWeave's and its price-to-sales multiple more than seven times.

On September 30, Jim Cramer said on Mad Money that he likes CoreWeave (CRWV) more than Nebius (NBIS), calling Nebius a very good company but saying its move troubles him.

Cramer's preference rests on CoreWeave's scale and backlog, while Nebius trades at a much higher valuation. Nebius' enterprise-value-to-revenue multiple is nearly four times CoreWeave's and its price-to-sales multiple more than seven times.