Alex Sirois's 247wallst.com article compares CoreWeave and Nebius Group as AI growth stories now weighed down by debt: CoreWeave carries $51.608 billion in debt with a $626 million Q2 2026 net loss, while Nebius funds its buildout through prepayments, convertibles, and share sales. Sirois judges leverage the real divide between the two, giving Nebius the stronger balance sheet for now.