๐ Meta $META surges +9% while CoreWeave $CRWV, Nebius $NBIS crash -14%/-17% this week
A Bloomberg report that Meta plans to sell excess AI computing power to outside customers sent $META up 8.8% in a single session โ but body-slammed the neocloud rivals that rely on Meta as their biggest client. CoreWeave ($CRWV) plunged 13.9% to $85.68 and Nebius ($NBIS) sank 17% to $229.18, with the market spooked by the customer-turning-competitor risk (Meta has a $21B commitment with CRWV and a $27B deal with NBIS). US markets are closed today for July 4th and reopen Monday; Q2 earnings season then builds โ PepsiCo ($PEP) reports Thursday. Not financial advice. Does Meta's cloud pivot spell the end of the neocloud boom, or is this an overreaction dip?