Shares of CoreWeave (CRWV) and Nvidia (NVDA)-backed Nebius (NBIS) climbed in pre-market trade on Monday after The Wall Street Journal reported that Nvidia is in discussions to provide a $250 billion financing backstop for an OpenAI data-center lease. Bloomberg Intelligence analyst Anurag Rana said the structure looks constructive for neoclouds, reinforcing confidence that AI infrastructure demand remains strong. CRWV’s stock climbed more than nearly 3% in pre-market trade, while NBIS stock rose over 5%. The reported $250 billion guarantee is tied to a 10-gigawatt AI data center campus in southern Ohio, expected to cost more than $500 billion. Nvidia is also discussing financing OpenAI's purchase of Nvidia chips for the campus, a package that could total another $350 billion. The first phase, representing roughly 800 megawatts of capacity, is expected to begin operating in 2028. Critics including Michael Burry questioned whether the arrangement reflects increasingly interconnected financing across Nvidia's AI ecosystem. Analysts said upcoming earnings from Microsoft, Amazon and Meta Platforms will provide the next major test of whether hyperscaler AI spending continues accelerating.