Nebius (NBIS) fell 6% to $162.03 despite a new senior secured credit facility from Citi, which matures in just under a year and is meant to fund data center development and GPU purchases while the company seeks longer-term asset-backed financing. CoreWeave (CRWV) dropped 5% to $58.86, while Cloudflare (NET) rose 2% to $313.35, with the article framing the selling as concentrated among neoclouds that rely on debt. A Barclays strategist noted that AI-spending credit stress has stayed largely confined to neocloud companies. Nebius has $37.5 billion in remaining performance obligations, $8.13 billion in capital spending, and three customers each accounting for a double-digit share of quarterly sales. The article says the Citi line adds to leverage concerns, making the timing and terms of the next financing a key test.
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| Market | US stocks |
|---|---|
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| Close on 10/21/2026 | 725.21 |
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