Nebius Shares Rise in Nasdaq Premarket; Nvidia Holds 94.7% Warrant-Based Position

NBIS closed the previous session at $187.77, dropping $32.81, or 14.9%. The Nasdaq-100 declined 1.15% in the same period. Nasdaq Global Index Watch No operational update appeared in Nebius’s newsroom following its July 17 funding disclosure. Nebius Broader worries over AI spending pressured technology stocks, as Meta’s reported cloud initiatives fueled fresh competition concerns. The Wall Street Journal The exact reason is still unclear.

Wednesday is the crucial day, with Meta and Microsoft releasing earnings after the market closes. Meta Nebius connects those clients to contracts exceeding $40 billion in revenue. Nebius Disclosures about AI budgets, infrastructure, and cloud could shift NBIS forecasts. The Federal Reserve wraps up its July meeting the same afternoon. Federal Reserve Unexpected moves on interest rates could increase volatility in this capital-heavy stock.

Nebius has yet to announce an official Q2 2026 earnings date. Its investor calendar most recently recorded a results event on May 13. Nebius Nasdaq continues to list the upcoming earnings date as unavailable. Nasdaq Meanwhile, third-party sources currently reference estimated dates of July 29, August 6, or August 10. Investing.com These are provisional and not confirmed by the company.

The company maintains its full-year revenue outlook at $3.0–$3.4 billion, following Q1 revenue of $399 million. To reach guidance, quarterly revenue must total $867 million to $1.0 billion for the remainder of the year. Annualized recurring revenue for March stood at $1.92 billion, while the December target is $7–$9 billion. Hitting that goal means a 3.6 to 4.7 times increase by December. Meta’s $12 billion specific deployments are scheduled to launch in early 2027, instead of 2026. SEC Near-term scaling will thus rely on other customers and available capacity.

The full $27 billion sum does not carry equal commitment. The initial $12 billion secures five-year GPU orders, set to begin deployment in early 2027. SEC An additional $15 billion represents possible value if Nebius has capacity left unsold elsewhere; Meta is obligated to buy that extra capacity under specific contract terms. SEC Delays in delivery could mean reduced fees, while termination clauses still apply. The arrangement reduces utilization risk, although buildout risk continues.

As of March 31, cash stood at $9.3 billion following $6.3 billion raised in Q1. Capital expenditure for 2026 is planned at $20–$25 billion, with $2.5 billion spent in Q1. Reuters A $775 million facility secured in July carries SOFR plus 2.50% and matures in 2030. Nebius This funding covers more than the full capital expense of a contracted GPU deployment. March’s latest convertible notes have initial conversion prices at $180.31 and $183.22. SEC Conversion is subject to conditions and is not automatic. Additional prepayments, debt, or equity could still be required.

Nvidia disclosed in an SEC filing that it holds 22.26 million shares, amounting to 9.3% beneficial ownership. SEC Of these, 1.19 million shares are owned outright, while 21.07 million shares are tied to a pre-funded warrant issued in March. SEC The company is restricted from exercising the warrant or selling the corresponding shares until September 11. The revelation pertains to new disclosure, not a new investment made in March.

For the first quarter, GAAP net income totaled $621.2 million, with an additional $780.6 million coming from investment revaluation. SEC Despite this, the adjusted net loss for the period stood at $100.3 million. SEC Core cloud business economics saw an improvement. Adjusted EBITDA for AI cloud came in at $174 million, with a margin of 45%. Depreciation and amortization for the group amounted to $212 million in the quarter. Starting in Q1, Nebius extended its server useful life from four to five years, a change in accounting method that will lower depreciation compared to earlier calculations.

Nebius was added to the Nasdaq-100 ahead of the market open on June 22. Nasdaq Investor Relations Inclusion generally boosts visibility through funds that mirror the index, but does not guarantee price support. NBIS shares dropped 14.9%, while the index slipped 1.15%. Nasdaq Global Index Watch The stock continues to show higher volatility than the benchmark.