Nebius Group (NBIS) shares fell more than 10% after the company said it expects full-year 2026 revenue to land at the low end of its previously forecast $3.0 billion to $3.4 billion range.
The guidance overshadowed a strong third-quarter report. Revenue surged 571% year over year to $980.8 million, beating analyst expectations.
Nebius attributed the 2026 outlook to delays in bringing some third-party data center capacity online. The delays will shift some revenue into early 2027.
The AI cloud provider raised its 2026 capital expenditure forecast to approximately $27 billion. It expects to spend $40 billion to $45 billion in 2027.
Nebius issued an initial 2027 revenue outlook of $12 billion to $13 billion.