Cloud cavitation is related to an intrinsic instability where clouds are shed periodically. The shedding process is initiated either by the motion of a liquid re-entrant jet or a condensation shock. Cloud cavitation in nozzles interacts with the flow field in the nozzle, the mass flow and the spray break-up, and causes erosion damage. For nozzle geometries cloud shedding and the associated processes have not yet been studied in detail. In this paper, we investigate the process of cloud cavitation shedding, the re-entrant jet and condensation shocks in a scaled-up generic step nozzle with injection into gas using implicit Large-Eddy Simulations (LES). For modeling of the cavitating liquid we employ a barotropic equilibrium cavitation model, embedded in a homogeneous multi-component mixture model. Full compressibility of all components is taken into account to resolve the effects of collapsing vapor structures. We carry out simulations of two operating points exhibiting different cavitation regimes. The time-resolved, three-dimensional simulation results cover several shedding cycles and provide deeper insight into the flow field. Our results show that at lower cavitation numbers, shedding is initiated by condensation shocks, which has not yet been reported for nozzle flows with a constant cross-section. We analyze the cavitation dynamics and the shedding cycles of both operating points. Based on our observations we propose modifications to established schematics of the cloud shedding process. Additionally, we analyze the near-wall upstream flow in and underneath the vapor sheet and possible driving mechanism behind the formation of the re-entrant jet.