Overview
- Nebius stock plunged about 17% on Wednesday with trading volume roughly 85% above normal as sellers hit the tape and the share price touched an intraday low near $228.
- The drop followed a Bloomberg report saying Meta plans to commercialize access to AI compute and models, a claim that remains unconfirmed by Meta in the coverage provided.
- The move came despite strong results from Nebius, which reported $399 million in quarterly revenue, a 684% year-over-year gain, and an EPS beat versus expectations.
- Investors flagged valuation and insider activity as added risks, noting a roughly $58 billion market cap, a P/E near 73.9, and more than $124 million in insider sales over the past 90 days.
- Analysts still lean toward a moderate buy on Nebius but warn that if Meta turns large GPU purchases into commercial supply it could reshape GPU availability, weigh on pricing, and deepen volatility for Nebius and peers such as CoreWeave.