New York, Jan 20, 2026, 19:27 EST — After-hours
- NBIS closed down 8.68% and edged lower in after-hours trading
- Israel’s national AI supercomputer went live using Nebius-built infrastructure
- Trump tariff threats over Greenland drove a broad “risk-off” move across markets
Nebius Group N.V. (NBIS.O) shares closed down 8.68% on Tuesday and slipped again in after-hours trading, in a wider tech selloff tied to fresh tariff threats. The stock ended at $99.29 and was last around $98.63 in extended hours, when trading continues after the 4 p.m. close. 1
The move matters because NBIS has become a fast-money proxy for AI data-center demand. When traders cut exposure, these names can gap and keep sliding even without a company-specific shock.
It also resets the tone into Wednesday. Investors are trying to judge whether “good news” on AI build-outs still matters in a tape that’s suddenly reacting to politics and rates, not product roadmaps.
Nebius was on screens earlier after Israel’s national AI supercomputer went live, with the cloud provider supplying the infrastructure and Nvidia B200 graphics processing units — chips widely used to train AI models — lined up for allocation, Data Center Dynamics reported. “The launch of the national supercomputer for use by industry and academia is a key step in strengthening Israel’s R&D infrastructure for artificial intelligence,” said Dror Bin, CEO of the Israel Innovation Authority. 2
The broader market, though, stayed in “risk-off” — a dash into safer assets — after U.S. President Donald Trump threatened to reignite a trade war with Europe over Greenland, according to Reuters. “The geopolitical risks that we’ve been talking about for a long time are re-emerging,” said Wasif Latif, chief investment officer at Sarmaya Partners, as the Dow fell 1.76%, the S&P 500 dropped 2.06% and the Nasdaq Composite slid 2.39%. 3
Trump said he would raise tariffs to 10% from Feb. 1 and to 25% from June 1 until the United States is allowed to buy Greenland, Reuters reported. “I’m not at the point yet where I’m willing to say this is going to precipitate a correction,” said Jamie Cox, managing partner at Harris Financial Group. 4
For Nebius, the macro shock lands on top of a capital-heavy story. A securities filing described multi-year GPU capacity agreements with Microsoft and Meta Platforms, pegging the contract values at about $17.4 billion through 2031 and about $2.9 billion over five years, respectively. 5
The stock traded between $98.34 and $104.47 on Tuesday, with about 16.6 million shares changing hands, according to StockAnalysis.com. It had closed at $108.73 on Friday, before the holiday break. 6
The volatility is not new. Investing.com shows NBIS has ranged from $18.31 to $141.10 over the past 52 weeks, a reminder that position sizes and liquidity matter as much as the headline. 7
But the risk case is easy to sketch. If tariff talk hardens into policy and bond yields keep pushing higher, the market tends to punish high-growth names that need steady funding to build capacity — even when demand looks strong.
The next company-specific catalyst is earnings. Nasdaq lists an estimated report date of Feb. 18, though companies can shift schedules, and traders will focus on any update on deployments and spending tied to Nebius’ contracted GPU build-outs. 8
Before that, the tape will likely take its cues from politics: the Brussels summit on Thursday and any follow-through from Washington, then how U.S. markets open into Wednesday after the after-hours close.
