Shares closed at $195.09 on 6 May after a 10% daily gain, helped by multiyear AI capacity deals with Microsoft and Meta and demand for GPU infrastructure.
The company says backlog exceeds $20bn and targets 2026 annualised revenue of $7bn-$9bn, supported by a 300-megawatt New Jersey facility and customer prepayments funding most planned capital spending.
Risks include heavy reliance on Microsoft and Meta, execution challenges in expanding data centres across three continents, and possible future fundraising as Nebius remains unprofitable at the operating level.
With its fate tied to two tech giants, can AI cloud provider Nebius justify its massive valuation?
As AI’s energy thirst grows, can new data centers overcome fierce local opposition and environmental limits?
Nebius Group (NBIS) Soars 105% YTD: AI Cloud Growth, Heavy Investment, and Q1 2026 Earnings in Focus
Overview
Nebius Group (NASDAQ:NBIS) has seen a remarkable surge in its share price, with returns of 33.7% in the past week, 57.4% over the past month, and 105.4% year-to-date as of May 2026, pushing the stock to US$184.77. This extraordinary performance has reshaped how the market views the company's potential and risks. The surge is driven by strong market sentiment about Nebius Group's strategic role in the fast-growing artificial intelligence sector, where it is increasingly seen as a key player. These developments have made Nebius Group a focal point for investors assessing future growth opportunities and valuation risks.