On July 15, NEBIUS fell 3.26% in after-hours trading, trading at 194.57 USD/share, with turnover of $230 million. The stock had surged to $222.75 during regular hours before reversing sharply to close down 7.92%, with the after-hours decline extending the selloff.

On the news front, NEBIUS announced the launch of an asset-light AI cloud business model, allowing infrastructure partners to deploy the company's AI cloud platform in their own data centers. Under this model, partners will finance, own and operate the infrastructure and hardware, while Nebius provides its AI cloud software, hardware design, systems architecture and global sales network. The company expects to use revenue-sharing, licensing and capacity-based arrangements with partners. While this approach expands AI compute capacity with limited capital investment, the market appeared concerned about margin dilution and the strategic shift away from its core heavy-asset model.

Additionally, lingering concerns over Meta building an internal compute commercialization unit continued to weigh on sentiment. NEBIUS had already pulled back over 20% from early July highs on those fears, despite the recently announced $1 billion-plus computing power deal with Reflection lasting through 2029.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)