Shares of Nebius plunged more than 16% on Thursday after the AI cloud company reported a 237% jump in operating costs and expenses for the third quarter of 2026 and increased its capex forecast for 2026.
The company said its total operating costs and expenses amounted to $930.4 million in the three-month period. Meanwhile, its revenue soared 571% year on year to reach $980.8 million and net loss from continuing operations improved from $119.6 in the same period in 2025 to $37.5 million. Nebius added that it expects its revenue to reach the range of $12 billion-$13 billion in 2027, but also noted it now sees its 2026 capex at $27 billion, compared to the earlier expected $20 billion, and forecasts that 2027 capex will reach $40 billion-$45 billion.
https://breakingthenews.net/Article/Nebius-tumbles-16-after-raising-capex-forecast/67554055
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