NEBIUS (NBIS) saw its stock price drop sharply by 5.18% during intraday trading on Monday, as investors reacted to concerns about the company's capital intensity and execution risks following its recent multi-billion-dollar AI infrastructure contracts.

The company recently secured deals worth $17.40 billion with Microsoft and $2.90 billion with Meta, reinforcing its role as a core AI infrastructure provider. However, these contracts have also intensified scrutiny over Nebius' ability to manage its heavy data center costs, recurring losses, and ongoing financing needs. Investors are questioning whether the company's aggressive capacity buildout can support a sustainable business model in the long term.