Nebius shares plunge 17% as $15 billion liability load rattles neocloud trade

Price Action

โดย 247wallst.com·Read original

Summary · why it matters

Nebius Group shares closed down 17% Wednesday, shaking the neocloud narrative that had retail investors chasing AI-first cloud upstarts. The company now carries $15.061 billion in total liabilities, up 1,040.07% year over year, while first-quarter revenue of $399 million missed consensus by 32.74%. Full-year 2026 capex commitments run $16 billion to $20 billion, against an ARR target of $7 billion to $9 billion by year-end, and interest expense in a single quarter reached $63.7 million. CoreWeave, which follows a similar debt-fueled model, saw its shares fall 14% on the same day; it holds $50.814 billion in total liabilities and posted $536 million in quarterly interest expense.