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Nebius fell 12.18% on October 16 as CoreWeave’s debt scare spread across AI cloud stocks. Its net debt is far smaller than CoreWeave’s. Wall Street’s own estimates have it near $34 billion by the end of 2027.
Fear is sweeping through the neocloud trade as CoreWeave's bond market flashes a warning sign that equity investors cannot ignore, and Nebius is getting dragged down with it.
Debt worries are back at the center of the AI cloud trade, and the most leveraged name in the group is taking the hardest hit. CoreWeave (NASDAQ:CRWV) stock is off 6%, recently at $65.77, leaving it down 7% year to date (YTD). Meanwhile, shares of IREN Limited (NASDAQ:IREN) are down 4% to $29.30, a smaller […]