Stock Market Today, Nov. 12: Nebius Group Sinks Nearly 17% After Lowering 2026 Outlook
Investors are weighing delivery timing and 2026 revenue execution after the AI cloud provider trimmed its outlook, today, Nov. 12, 2026.
On November 12, Nebius Group (NBIS) experienced a significant drop of nearly 17% in its stock price after announcing a lowered 2026 revenue outlook, despite a third-quarter revenue beat. The cloud infrastructure and GPU capacity provider's shares fell to $128.64, down 16.84%, as investors focused on delivery timing and 2026 revenue execution.
The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) also saw declines, with the S&P 500 dropping 0.35% to 7,592 and the Nasdaq Composite slipping 0.39% to 25,366. Nebius' peers, CoreWeave (CRWV) and IREN (IREN), also faced pressure, with their stocks falling 6.86% and 6.53% respectively. The company's premarket third-quarter earnings release revealed that delays in the construction of new third-party owned data centers had shifted some of the anticipated revenue to 2027.
To mitigate this risk, Nebius plans to focus more on owned and operated sites for its AI infrastructure expansion, which provides better control over timelines. Despite the sell-off, Nebius maintains strong business fundamentals, as strong customer demand for AI compute capacity allows the company to dictate higher prices and larger upfront payments.
Moreover, Nebius' prepayments on Q3 agreements now cover 100% of the cost to build new data center capacity, up from 50% to 60% in Q2, eliminating the need for debt funding unlike its rivals. This positive outlook has Nebius anticipating profitability on a pre-tax basis as early as Q4.
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