BUZZ - US new cloud concept stocks fall after Democrats' sweeping victory

November 4 - ** Shares of U.S. cloud companies fell in pre-market trading as the Democratic Party scored decisive victories in key data center markets such as Texas and Georgia

** CoreWeave (CRWV.O) fell 7.5%, making it one of the biggest decliners

** Nebius (NBIS.O) declined 5.4%, and IREN (IREN.O) dropped 6.1%

** The Democratic Party's electoral progress heightened market concerns about stricter data center regulation, and could also limit the expansion of AI infrastructure that supports artificial intelligence computing demand

** The Roundhill Neocloud ETF (NCLD.O), which tracks major new cloud concept stocks, saw a notable slump, dropping 4.8% that day and accumulating a decline of more than 33% since its launch in early August

** Deutsche Bank cut its price target for CRWV from $150 to $125, and Citibank lowered its target from $159 to $128, citing rising financing costs and valuation concerns

** As of the close of the previous trading day, NBIS stock had risen more than 81% year-to-date, while CRWV and IREN had fallen by more than 24% and 35%, respectively

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