New York, March 1, 2026, 14:35 EST — Market closed
Nebius Group N.V. (NBIS) finished the regular session Friday down 13.1% at $91.19, after touching a low of $88.40. Shares were last seen at $90.82 in after-hours trade, with roughly 22.8 million shares moving on the day.
The decline lands the AI-cloud builder squarely back under scrutiny as Monday approaches, investors once again poring over the familiar equation: big outlays today, the promise of earnings pushed down the road. U.S. stocks wrapped up February with a loss on Friday; the Nasdaq shed 0.92%, a setup that often hits high-growth tech firms before the rest.
The “neocloud” trade ran into a wall of selling after CoreWeave announced plans to jack up its 2026 capital spending to $30 billion-$35 billion. Neoclouds, a group of smaller cloud providers focused on renting out GPU-intensive systems, rely on capex to expand server and data center capacity. “Markets … are concerned about the long-term economics and how the company plans to fund the investment,” said AJ Bell investment director Russ Mould. Reuters
Amsterdam’s Nebius, which supplies Nvidia chip access and cloud services, lists Microsoft and Meta as clients. Founder and CEO Arkady Volozh, in a Feb. 12 letter to shareholders, noted that demand “continues to outpace supply.” For the December quarter, Nebius logged around $2.1 billion in capital expenditures. Reuters
Investors are recalculating that balance—speedier buildouts might secure revenue sooner, but funding risks rise. Smaller firms don’t have the buffer hyperscale cloud groups enjoy if sentiment sours.
A steep selloff might lure in buyers, provided management can prove spending aligns with secured demand and existing credit lines. The downside? Disappointing utilisation, restricted funding, and potentially a fresh equity raise could complicate things fast.
U.S. markets are closed Sunday, leaving traders eyeing Monday’s open to gauge if Friday’s drop signaled just forced selling—or something bigger for AI infrastructure bets. What CoreWeave does next, and any effect on Nvidia, could shape the mood.
Rates might take it from here. Eyes are on the U.S. Labor Department, with the February jobs report due March 6 at 8:30 a.m. ET—an important data point for where interest-rate bets go next.
Nebius faces a more immediate hurdle first. CEO Volozh and chief revenue officer Marc Boroditsky are slated to speak at a Morgan Stanley conference fireside chat scheduled for March 4 at 10:45 a.m. ET. Investors are expected to push them for specifics on spending, capacity, and funding at the event.
