Nebius Group N.V. shares fell as much as 10% in premarket trading on July 1, 2026. A Bloomberg report triggered the decline by detailing Meta Platforms' plans to build a cloud business. This venture would sell excess AI computing capacity.
Meta’s entry into the market creates direct competition for specialized AI cloud firms like Nebius and CoreWeave. Investors expressed concern over the shifting competitive landscape for AI infrastructure providers.
The market reaction overshadowed a regulatory filing from RFG Advisory LLC. The filing showed the firm reduced its position in Nebius Group during the first quarter.