$NBIS Drops 62% From All-Time High Below 200-Day Moving Average as Data Center Delays and Financing Pressures...

$NBIS is trading below its 200-day simple moving average and sits 62% below its all-time high as multiple headwinds weigh on the artificial intelligence data center trade and neocloud operators.
Post-midterm concerns over slower infrastructure buildouts have pressured neocloud equities, compounded by $NBIS trimming its 2026 revenue guidance after third-party data center delays pushed expected revenue recognition into 2027. Management maintained that the revision reflects deployment timing rather than softer customer demand.
Broader competitive and financing pressures are also reshaping the AI compute landscape. Neocloud providers that rely heavily on $NVDA financing face added uncertainty following Jensen Huang’s departure as $NVDA chief executive, while Elon Musk noted that debt markets have effectively closed for operators dependent on AI data center buildouts even as SpaceX ($SPCX) secured $40 billion in GPU financing. At the same time, $GOOGL is selling its custom Tensor Processing Units directly to major customers including Anthropic and Meta, threatening to capture market share from traditional $NVDA GPU deals.