Nebius Group is trading at $190.87 (-4.33%) in pre-market after reports that Meta is planning a cloud infrastructure business, potentially competing with neocloud providers.
- The move follows a volatile stretch for the stock, which recently saw a 4.3% gain tied to an asset-light AI cloud partnership model and Reflection AI deal reassessment.
- Broader tech sentiment is also softer in the pre-market session, with the Nasdaq-100 indicated lower, adding further pressure to the sector.