Nebius Beats Q3 Estimates, Stock Rises Despite Neocloud Selloff

Nebius reported a smaller-than-expected third-quarter loss and revenue that topped analyst estimates, causing its stock to rise despite a broader selloff in neocloud companies. The AI-focused cloud firm beat expectations on both key financial metrics, with revenue exceeding forecasts and losses coming in narrower than projected. This positive earnings report provided a temporary boost to the stock. However, the broader neocloud sector continued to face downward pressure, with shares selling off again despite Nebius's strong individual performance. The company's results stand in contrast to the wider market trend.