By Danny Vena, CPA, The Motley Fool
Publication Date: 2026-08-06 19:06:00
Nebius Group (NASDAQ: NBIS) stock turned sharply lower today, plunging as much as 10.5%. As of 2:32 p.m. ET, the stock was still down 10.1%.
The catalyst that sent the artificial intelligence (AI) and neocloud specialist lower was a contentious public hearing about the construction of one of its data centers.
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Public outcry
Nebius Group has partnered with DataOne to construct a massive AI data center in Vineland, N.J. The 300-megawatt facility, which will mark Nebius’ first major data center in the U.S., is expected to be the size of 45 football fields and to be a flagship facility for the company. The first phase is nearing completion, and Nebius has applied to increase the size of the location several-fold.
However, a public hearing on Wednesday evening about a proposed expansion of the facility turned contentious as a packed house of city residents expressed concerns about a lack of transparency regarding the proceedings. Locals also questioned the impact of the data center on their quality of life, including issues related to water use, noise, and air quality. The meeting, originally scheduled to be held…
