Nebius Group N.V. shares fell as much as 11% on Friday amid a broad selloff in technology and artificial intelligence stocks. They closed down 10.4% at $154.14, with a high volume of shares traded. The decline was not tied to specific company news, but to broader market concerns.
Investors are increasingly worried about the high costs and capital required to build AI infrastructure. Financial guidance from Amazon and Intel appeared to deepen those concerns, prompting investors to pull back from AI-related cloud stocks, including CoreWeave and NVIDIA.
Nebius is scheduled to report third-quarter results on November 12.