One overlooked opportunity for $NBIS, $CRWV and $DOCN is revenue per megawatt.
The opportunity isn’t just adding more AI compute capacity — it’s earning more from every megawatt through better utilization and higher-value services.
DigitalOcean currently leads on revenue per MW, while CoreWeave and Nebius have room to improve as utilization grows and inference services expand.
If all three move toward the projected $25M per MW by 2035, the upside could come from efficiency, not just expansion.
The next AI infrastructure race may be about monetizing capacity, not simply building it.
