Nebius Shares Drop Amid Neocloud Sector Selloff
Shares of Nebius Group (NASDAQ:NBIS) fell by 13% in midday trading, extending a broader decline across the neocloud and AI data center sector. The stock is down 36% over the past month amid concerns that Meta Platforms may expand its own cloud infrastructure to compete with specialized providers like Nebius.
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Topics: AI data centers Meta competition neocloud stock selloff