US Stock Movement: Nebius Group Plunges on October 26—Elon Musk Shorts New Cloud, Financing Becomes Difficult, New Cloud Shares Fall

Nebius Group October 26th: Analysis of the Sharp Drop

Keywords: Musk shorting new cloud, financing becomes difficult, new cloud stocks fall

1. On October 25th, Musk posted on the X platform stating that more than 200 new cloud companies will face elimination and consolidation. SpaceX will not acquire any new cloud companies and called the acquisition of new cloud companies "meaningless". On October 26th, new cloud concept stocks collectively fell during the night session, with CoreWeave, Nebius, and IREN dropping over 3%. Nebius declined along with the sector.

2. On October 26th, the CEO of Nebius admitted that it is becoming increasingly difficult for new cloud companies to obtain debt financing; asset-backed financing and the debt market are temporarily depleted. He also mentioned that the company has sufficient funds to build gigawatt-level projects.

3. On October 26th, new cloud concept stocks continued to show weakness in the night session, with CoreWeave and IREN falling over 3%, and Applied Digital dropping over 2%. This month, shorts have profited around 6 billion USD from short-selling five AI infrastructure companies, with the short-selling ratio generally rising above 20%. In the weak sector, Nebius has been falling in sync.

(Disclaimer: This content is generated by AI technology based on publicly available information, for reference only and does not constitute investment advice.)