NEW YORK, July 4, 2026, 14:02 (EDT)
- NBIS finished regular trading at $215.62 on July 2, a 5.92% drop. Nasdaq was closed July 3 for the Independence Day holiday.
- NBIS traded a two-day volume July 1-2 that was about 24.9% of Nebius’s March 31 Class A shares, by calculation.
- The Meta agreement carries a quieter risk: $15 billion out of the up-to-$27 billion total is tied to extra available capacity, not the $12 billion committed part.
Nebius Group N.V. NASDAQ:NBIS isn’t trading in the U.S. through the holiday. The Nasdaq’s 2026 schedule has July 3 as a market holiday for Independence Day observed. So Thursday’s close stands as the last regular price until Monday.
NBIS closed July 2 at $215.62, off $13.56, or 5.92%. MarketWatch listed after-hours at $215.89. About 24.9 million shares traded on the day, or 140% of the 65-day average. The stock fell 10.27% over the last five days.
Turnover is the bigger figure here. StockAnalysis numbers show 30.18 million NBIS shares changed hands July 1 and 24.65 million on July 2 — that’s 54.83 million shares across the two days. Nebius said it had 220.41 million Class A shares and 253.90 million total shares out as of March 31. So volume over the two sessions came out to about a quarter of the Class A float. The data doesn’t show who was on either side of the trades. It does show the Meta headline moved the stock hard.
NBIS moved the other way as the broader market slipped. Nasdaq Composite dropped 0.8% Thursday but was up 2.1% this week so far, per AP data. S&P 500 was unchanged Thursday and has added 1.8% for the week.
| Measure | Latest read |
|---|---|
| NBIS ended July 2 | $215.62, down 5.92% |
| NBIS, last five days | off 10.27% |
| NBIS volume July 1-2 | 54.83 million shares |
| Nasdaq Composite Thursday / week | fell 0.8% / up 2.1% |
| S&P 500 Thursday / week | unchanged / gained 1.8% |
Shares dropped after Reuters, citing Bloomberg News, said Meta Platforms NASDAQ:META is setting up a cloud business to sell extra AI computing power. Reuters couldn’t independently confirm the story. Meta did not comment. CoreWeave NASDAQ:CRWV fell 10.8% and Nebius dropped 12.4% on the day, according to Reuters.
“Those companies like CoreWeave and Nebius depend on Meta for growth, and Meta may just move on without them,” Gil Luria, managing director at D.A. Davidson, told Reuters. Meta CEO Mark Zuckerberg said at the May shareholder meeting that cloud computing is “definitely on the table,” according to Reuters. Reuters
Nebius isn’t just dependent on Meta as a big customer — the March contract structure itself adds risk. Nebius disclosed Meta agreed to buy $12 billion of dedicated capacity over five years, starting in early 2027. The cloud company also said Meta would buy extra available capacity across new clusters up to $15 billion, but Nebius plans to sell that extra capacity to other AI-cloud clients first, with whatever is left to be picked up by Meta. “We will continue to deliver,” Nebius CEO and founder Arkady Volozh said at the time. Nebius
Microsoft NASDAQ:MSFT is on the other end of the stack. Reuters said back in September the contract with Microsoft was set at $17.4 billion over five years, with room to go up to $19.4 billion if demand picks up. BWS Financial’s Hamed Khorsand told Reuters the Microsoft contract brings “unprecedented clarity” to Nebius’s longer-term revenue outlook. Reuters
| Customer | Contract value used in math | Share of Meta/Microsoft max | As % of MarketWatch market cap |
|---|---|---|---|
| Meta Platforms | Up to $27.0 bln | 58% | 50% |
| Microsoft | Up to $19.4 bln | 42% | 36% |
| Pair | Up to $46.4 bln | 100% | 86% |
The math helps explain why July’s selloff is important. MarketWatch had Nebius at a $54.26 billion market cap, the stock up 157.6% for the year and 329.1% for twelve months, even after the recent two-day slide. Fast delivery is still in the price, but a new risk is about control over future AI-cloud demand: neocloud seller or the hyperscaler client.
Nebius said its operating base expanded quickly. The company posted first-quarter revenue of $399.0 million, up 684% on the year. Adjusted EBITDA came in at $129.5 million. Spending on property, equipment and intangible assets totaled $2.47 billion. Nebius also said it secured as much as 1.2 gigawatts of power and land for an AI factory in Pennsylvania.
No company events are lined up to start the week. Nebius’s investor events page reads “No upcoming events yet,” at last check. Cash-session reference points are unchanged: Thursday’s $207.30 low, Wednesday close at $229.18, and the $240.30 finish from June 26 ahead of the holiday week. Nebius
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