Nebius Group is trading 4.7% down at $163.60 in pre-market, based on the supplied pre-market price and October 21 close, as U.S. futures and major indexes are lower and concerns about AI spending and financing pressure technology and AI-cloud shares.
- Piper Sandler recently cut its price target to $185 from $237, citing concerns about AI demand, returns on investment, and financing.
- Available reports do not establish the cut as a new catalyst for this morning’s move.