Meta and Microsoft bare-metal contracts fund core cloud
Company: Nebius
The claim, verbatim
CEO Arkady Volozh said the Meta and Microsoft bare-metal contracts are not Nebius' core business and are used to help finance its independent cloud business.
Source (primary)
Nebius Stock Fell 12% in a Day as CoreWeave’s Debt Scare Spread. Here’s Why Its Balance Sheet Isn’t CoreWeave’s Yet - TIKR.com (-, news_article)
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Quote: “called the Meta and Microsoft bare-metal contracts “not our core business.” He added: “we use those big contracts to help finance our main part and to build our independent part, our cloud part.””
How we checked this
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Additional evidence
confirms Nebius Stock Fell 12% in a Day as CoreWeave’s Debt Scare Spread. Here’s Why Its Balance Sheet Isn’t CoreWeave’s Yet - TIKR.com
Quote: “called the Meta and Microsoft bare-metal contracts “not our core business.” He added: “we use those big contracts to help finance our main part and to build our independent part, our cloud part.””