Nebius Stock Selloff deepens as Meta competition fears overshadow its $1 billion AI deal and asset-light expansion strategy.

Nebius agrees to sell over $1 billion in computing power to Reflection AI, adding to a $50 billion contracted backlog that includes a $27 billion Meta deal.

Nebius shares gained after securing a multi-year AI infrastructure agreement worth over $1 billion with startup Reflection AI through 2029.