Nebius (NBIS) beat Q3 revenue estimates but now expects 2026 sales at the low end of its range

Key points Nebius beats on revenue, then trims its 2026 outlook Nebius moves part of Microsoft's capacity into 2027 Nebius plans up to $45 billion of 2027 spending Nebius Group (NBIS) shares fell 17.8% to $127.21 by 10:42 a.m. ET on November 12, after the AI cloud company said delays at third-party data centers would push some capacity into 2027. Nebius reported third-quarter revenue of $980.8 million, up 571% from a year earlier and above the $907.5 million analysts expected, according to LSEG data cited by CNBC. But Nebius now expects full-year revenue at the low end of its $3.0 billion to $3.4 billion forecast. Other AI cloud stocks also fell. CoreWeave (CRWV) was down 6.7% and IREN (IREN) was down 8.6% at 10:42 a.m. ET. Nebius had closed at $154.69 on November 11, after a 15.4% gain that day. About $325 million of the quarter's revenue was non-recurring, according to founder and CEO Arkady Volozh's letter to shareholders.

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