US Stocks Movement: Nebius Group plummets on November 12—NVIDIA CEO change, new cloud sector declines, and profit-taking ahead of earnings report

Nebius Group November 12 Major Drop Analysis

Keywords: NVIDIA CEO change, new cloud sector decline, profit taking before earnings report

1. On November 12, it was reported that NVIDIA's board of directors is considering replacing CEO Jensen Huang. NVIDIA shares fell about 6% in pre-market trading, Nasdaq 100 futures declined, AI hardware stocks plummeted collectively, and Nebius, as an AI cloud infrastructure operator, came under pressure alongside the sector.

2. On November 12, Barclays lowered CoreWeave's target price to $85, and CoreWeave shares dropped 9.15% in pre-market trading. The market's concern over debt financing by new cloud providers and increased resistance to data center approvals in multiple states intensified, causing Nebius to also decline.

3. After Nebius surged 15.44% on November 11, it gave back part of its gains in pre-market trading on November 12. On the same day before the market opened, the company released its third-quarter earnings report, and the market adjusted positions ahead of the results.

(Disclaimer: This content was collected and summarized by AI technology from publicly available information and is for reference only. It does not constitute investment advice.)