CRWV, NBIS, IREN, APLD Stocks Drop After Microsoft Capex Falls Short On Delayed Third-Party Capacity

• Microsoft and Alphabet reported last quarter capital expenditures that fell short of analyst targets.

• “Some third-party capacity deliveries we expected in Q1 were delayed,” Microsoft CFO Amy Hood said.

• Bank of America disclosed that it held a 4.1% stake in IREN.

Neocloud stocks fell in overnight trading late Wednesday after Microsoft Corp. (MSFT) reported fiscal Q1 capital expenditure below analysts’ and its own estimates, citing a delay in certain third-party cloud capacity coming online under contract.

Together with Alphabet (GOOGL) also reporting a lower-than-expected CapEx figure in Q3, investors took that as a sign of a slower ramp-up in capacity at neocloud firms.

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CoreWeave (CRWV) stock fell 5.8%, while Nebius (NBIS) stock declined 6.3%. Iren Ltd (IREN) and Applied Digital (APLD)…