Nebius shares fall 16 percent on delays

Shares of Nebius fell 16 percent on the 12th of November 2026 after the AI cloud company trimmed its 2026 revenue outlook, CNBC reported. Nebius rents out computers built for AI.

Some data center space from outside partners slipped into the first half of 2027, Nebius said, according to CNA. A data center is a building full of computers.

Strong quarter, weaker outlook

Third quarter revenue was about 981 million dollars, above forecasts of 907.5 million, CNBC reported. Revenue jumped 571 percent from a year earlier, Nebius said.

Nebius now expects 2026 revenue at the low end of its 3 to 3.4 billion dollar range, CNBC said. For 2027 it expects 12 to 13 billion dollars.

Spending goes up

Nebius raised its 2026 spending plan to about 27 billion dollars, from 20 to 25 billion, CNBC reported. It expects 40 to 45 billion dollars of spending in 2027.

Customer prepayments and loans will cover about 75 to 85 percent of 2027 spending, CNA reported. Chief executive Arkady Volozh said none of the delayed capacity is canceled.

Below we break down the gap

At the midpoints, Nebius plans about 42.5 billion dollars of 2027 spending for about 12.5 billion of revenue, by our arithmetic. Spending is about 3.4 times revenue.

The new 2026 spending plan of 27 billion is 2 billion above the old top of 25 billion.

What is confirmed and what is not

CNBC and CNA put the share fall at 16 percent, while Yahoo Finance reported 15 percent. Nvidia's leadership crisis also weighed on AI stocks, CNBC said.

Key facts

Nebius shares fell 16 percent on the 12th of November 2026, CNBC reported.

Third quarter revenue was about 981 million dollars.

2026 spending is now planned at about 27 billion dollars.

2027 spending is planned at 40 to 45 billion dollars.