US Stock Market Move | AI neocloud duo CoreWeave (CRWV.US) falls over 8%, NEBIUS (NBIS.US) plunges over 18% as the latter delays its ARR target

On Thursday, the AI neocloud duo CoreWeave (CRWV.US) fell over 8%, while NEBIUS (NBIS.US) plunged over 18%. On the news front, Nebius reported third-quarter revenue of $981 million (up 571% year-over-year) and adjusted EBITDA of $466 million, both beating expectations. However, the company delayed and narrowed its annual recurring revenue (ARR) guidance, saying it no longer applies, while sharply raising its 2026 capital expenditure to $27 billion and expecting it to rise further to $40 billion to $45 billion in 2027. In addition, CoreWeave is reportedly seeking to refinance at least $4 billion through an investment-grade loan, led by Morgan Stanley and Mitsubishi UFJ, with syndication marketing expected to launch as early as next week. The financing continues the structure secured by NVIDIA Corporation chips and customer contracts, with an expected issuance yield of about 7%-7.5%, far below the yield on its junk-rated bonds.