US Stocks Movement: Nebius Group plunges on November 13th due to Q3 earnings and full-year guidance below expectations, increased capital expenditures, and data center delays

Nebius Group November 13 Major Decline Analysis

Keywords: Q3 financial report, full-year guidance below expectations, capital expenditure increase, data center delay

1. On November 12, Nebius released its Q3 2026 financial report, with revenue of $980.8 million, a year-on-year increase of 571%, and adjusted EBITDA of $465.8 million. However, the company narrowed its 2026 full-year revenue guidance to the low end of the $3 billion–$3.2 billion range, below the market expectation of about $3.37 billion. It also raised its 2026 capital expenditure guidance from $20 billion–$25 billion to approximately $27 billion, and its 2027 capital expenditure plan to $40 billion–$45 billion. The market is concerned about pressure on free cash flow.

2. On November 12, the company disclosed a delay in third-party data center hosting in New Jersey, resulting in 2026 revenue falling at the low end of guidance and the $7 billion run-rate target being postponed to February 2027.

3. On November 12, NVIDIA announced that CEO Jensen Huang resigned as president, CEO, and director, effective immediately. NVIDIA's share price fell more than 10% pre-market, CoreWeave fell over 13%, IREN fell over 8%. In the AI hardware sector, data centers, optical communications, storage chips, and other segments led the declines. Nebius dropped in tandem with the new cloud and AI infrastructure sector.

4. After Nebius released its financial report on November 12, US new cloud sector stocks saw their pre-market losses widen. Peers such as CoreWeave and IREN continued to decline, and sector-wide selloffs dragged down Nebius's share price.

5. On November 13, Baird cut Nebius's target price from $340 to $200. The average 12-month target price among analysts was lowered to $282.14.

6. On November 13, Michael Burry stated that NVIDIA's control over the AI supply chain might loosen, and companies such as Nebius—which once relied on NVIDIA's dominance—now face uncertainty. He increased his short positions in tech stocks.

(Disclaimer: This content is compiled from public information using AI technology and is for reference only. It does not constitute investment advice.)