Nebius falls 16% as company expects increased 2026 capex spend, issues weak outlook

Shares of Nebius fell 16% in trading as the publicly traded neocloud operator released disappointing guidance for the remainder of the year and raised its capital spending outlook substantially. The company expects fiscal year 2026 revenue at the lower end of its previously stated $3 billion to $3.4 billion range, below the $3.37 billion consensus estimate from LSEG-surveyed analysts.
Capital expenditure guidance proved particularly significant. Nebius raised its FY2026 capex outlook to $27 bil