SemiAnalysis ClusterMAX Lead @JordanNanos explains how Nebius picked up demand CoreWeave couldn’t handle and then executed well enough to reach the Platinum tier of its GPU cloud rankings:
“CoreWeave has set the standard. I mean, they are the best in terms of technology.”
“These guys deploy 10,000 GPUs a week at the peak when they’re building data centers. That’s incredible.”
“But their balance sheet is full. There’s only so many people and resources you can marshal to build out another gigawatt when they’re going to 15 and beyond.”
“We have customers coming to us and saying, ‘I saw you write such good things about CoreWeave. I just have $100 million I’m trying to give to them. They’re telling me they can’t accept it until May of next year because they’re backed up.’”
“And therefore Nebius has been capitalizing.”
“They’ve also executed very well. The technology that they’ve developed is strong.”
“We think that managed clusters are approaching this feature-complete world where it’s hard to tell the difference in quality between Nebius and CoreWeave.”
“Certainly our testing experience has been really solid on both of them.”
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ClusterMAX 3.0: The Industry Standard GPU Cloud Rating System Returns: newsletter.semianalysis.com/…
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The Chinese AI Infrastructure Boom:
Introducing the SemiAnalysis China Datacenter Model
1,000+ facilities across 60+ operators mapped,
built retail-first and flipped by AI,
largest hyperscaler leases 1/5 national capacity, 100MW in 12 months, Eastern Data Western Compute
newsletter.semianalysis.com/…
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MONEY PRINTER ALERT🚨 NVIDIA vLLM B200 CAN GENERATE UP TO💰️$15 BILLION💰️OF ANNUAL PROFITS PER GIGAWATT serving the open DeepSeekv4.1 Flash model at the official interactivity & official selling prices.
Using Engram DRAM offloading on NVIDIA results in a 50% increase in revenue per GigaWatt.
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We are more bullish on China’s WFE localization after attending CSEAC 2026 in Wuxi. (1/5)🧵
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Localization in process control and components is still relatively low but should catch up over the next few years. For more details, please subscribe to our WFE Model. (5/5)
semianalysis.com/wafer-fab-m…
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AMD MI355X becomes the first official TileRT result no AgentX! This configuration achieves an astounding 470 TPS on GLM 5.3 (FP8). This is over 40% faster than GB300 TRTLLM using FP4!
Great work to the TileRT x AMD team! (1/3)🧵
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This is a disaggregated config: the prefill engine runs vLLM and the decode engine TileRT.
TileRT is an ultra-low latency-focused inference engine that runs model decoding in a persistent GPU kernel to deliver faster tokens to each user. (2/3)
github.com/tile-ai/tilert
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Agentic coding puts a kind of stress on GPU clusters that providers are struggling to handle. SemiAnalysis runs it on the clusters it rates anyway, with an open-source CLI in front.
"A lot of our ClusterMAX testing, we lead with our CLI, cmax. It's open source. Feel free to try it out on your managed cluster."
"We do use agentic coding for testing all these clusters, and the workload is very different. The workload is very stressful on these systems."
"That's why we have cmax CLI as a front end, and the agent is just a wrap around it. If there are any issues cmax CLI faces, the agent debugs into it and understands what's going on."
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SemiAnalysis' @JordanNanos on the neocloud talent wars:
"It's across the entire supply chain. We see this in electricians, data center technicians, and operators. Salaries for electricians in Louisiana and Abilene, Texas, are up 3x to 5x."
"Crusoe just came in and paid these guys so much more money. But they're out of people. They need to train. No matter what job we're talking about, people just need to be trained."
"The most successful neoclouds that we're seeing have this pipeline to take talent from other related areas and get them contributing to neocloud management and day-2 operations where a software engineer can start to work as an SRE on one of these teams."
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PSA TO NEOCLOUDS COPING ABOUT CLUSTERMAX RATING:
If you run a restaurant and you get bad Google reviews, don't attack the review. Instead listen and it might make your service better.
For more food-related metaphors about neoclouds, check out: newsletter.semianalysis.com/…
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ClusterMAX 3.0: The Industry Standard GPU Cloud Rating System Returns
semianalysis.substack.com/p/…
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Happy Thursday. On today's show:
- @CompleteSkeptic (TypeSafe)
- @JordanNanos (SemiAnalysis)
- @leifthunder (Public)
- @hoomanrenezhad (Solcoa)
- @erika_alden_d (Pioneer Labs)
- @Shalev_lif & @RomiLifshitz (Enclosure)
See you on the stream.
Meta Connect Reactions, Zuck's Beer Pong Controversy, ClusterMAX 3.0, New Bentley EV nitter.net/i/broadcasts/1DGleVWwE…
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SemiAnalysis Energy Model subscribers were the first to know.(2/2) semianalysis.com/energy-mode…
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