CoreWeave, Nebius, and IREN Stocks Decline Amid Guidance Cuts and Market Pressures

Shares of AI-focused cloud infrastructure providers CoreWeave (CRWV), Nebius (NBIS), and IREN Limited (IREN) extended losses in pre-market trading Friday, compounding steep declines from the prior session. CoreWeave dropped 3% to $75.90 after an 8% Thursday selloff, Nebius fell 5% to $84.28 following a 6% retreat, and IREN tumbled 6% to $45.60 after Thursday's 13% plunge.

The selloff follows CoreWeave's reduced full-year revenue guidance, trimmed from $5.25 billion to $5.1 billion, alongside $8.5 billion in slashed capital expenditures. CEO Mike Intrator blamed a single-day outage at a third-party data center, but analysts cite broader concerns over delayed capacity expansion and constrained availability of powered shell facilities.

Market sentiment toward neocloud stocks has soured rapidly despite earlier enthusiasm for AI infrastructure plays. The sector now faces scrutiny over execution risks as hyperscalers and enterprise demand test the limits of available data center supply chains.