Jesse Burgoine, 28, and Artjom Nepryahin, 26, were accused of having sex with the then 23-year-old while she was not fully conscious in 2014.
Both defendants said the sexual encounter was consensual and denied the woman had passed out.
Nottingham Crown Court had also heard explicit videos were filmed as the woman slept on a sofa and pictures uploaded to messaging app WhatsApp.
The court was told the men had "targeted" the woman at Coco Tang nightclub in Nottingham in December 2014 before sexual activity took place at Mr Nepryahin's flat in the city.
But jurors found Mr Burgoine, of Bedfordshire, and Mr Nepryahin, from Liverpool, not guilty of two charges of rape on Thursday, after a two-week trial.
Two men have been cleared of raping a woman they met at a nightclub.