TLDR NBIS rose 8.9% during pre-market hours following confirmation of its Nasdaq-100 inclusion, set to take effect on June 22 Shares have climbed 320% over the trailing twelve months and 135%
Nebius Group (NBIS) is capturing significant market attention. The AI-focused cloud infrastructure provider climbed 8.9% in pre-market activity on June 15 following Nasdaq’s announcement that the company would be added to the Nasdaq-100 Index (NDX) on June 22. Currently trading near $218, the stock has attracted analyst price targets spanning $235 to $287.
The inclusion in the Nasdaq-100 is anticipated to generate significant near-term demand. Passive funds and exchange-traded products that track the NDX must acquire shares of newly included companies, typically creating upward price momentum and elevated trading volumes. Nebius will enter the index alongside CoreWeave (CRWV), Rocket Lab (RKLB), Astera Labs (ALAB), and Teradyne (TER) as part of the upcoming rebalancing.
NBIS has delivered a remarkable 320% return over the past year and has gained 135% in 2026 alone, achieving a market valuation approaching $55 billion — comparable to competitor CoreWeave.
The company’s evolution from a Russian technology conglomerate to an AI cloud infrastructure operator represents one of the most dramatic corporate reinventions in recent years. Following the suspension of Yandex trading in 2022 due to international sanctions, the organization divested its Russian operations, underwent a comprehensive rebrand to Nebius, and emerged with a strategic emphasis on GPU-powered data center facilities spanning Europe and North America.
What has provided Nebius with substantial market validation is its roster of blue-chip clients. Microsoft committed to a multi-year $17 billion revenue agreement for GPU infrastructure in September 2025. Meta subsequently announced a computing partnership valued at up to $27 billion in March 2026. Nvidia also contributed a $2 billion equity investment. More recently, the Situational Awareness fund — established by former OpenAI researcher Leopold Aschenbrenner — acquired a 5.6% ownership position.
Morningstar analyst Javier Correonero notes that these hyperscaler partnerships accomplish two critical objectives: they establish Nebius as a credible enterprise-grade provider while delivering advance payments that help finance substantial capital expenditures.
Nebius disclosed Q1 revenue of $399 million, representing a 684% year-over-year expansion. The company projects an annual revenue run rate between $7 billion and $9 billion for 2026.
Following the NDX announcement, Goldman Sachs elevated its price objective on NBIS from $234 to $267. Citi maintained its Street-leading target of $287, suggesting 23.5% potential upside. Bank of America analyst Tal Liani increased his target to $280, pointing to strengthening compute demand and enhanced software capabilities.
On TipRanks, NBIS carries a Moderate Buy consensus rating — comprised of six Buy recommendations and four Hold ratings — with a mean price target of $235.
Morningstar represents a significant contrarian perspective. Correonero assigns NBIS only 1 star, establishing a fair value assessment of $120 — recently increased from $85 — indicating the stock trades at an 82% premium to intrinsic value. He identifies elevated capital expenditure requirements, potential shareholder dilution, and customer concentration risk among a limited number of hyperscaler clients as primary concerns. Nebius has disclosed capital expenditure plans totaling $20 billion to $25 billion for 2026.
Correonero emphasizes that this isn’t speculative trading — “It is a serious data center operator with a solid and knowledgeable management team” — but acknowledges it presents high volatility characteristics.
Rob Thummel of Tortoise Capital, which established a position in Nebius approximately six months ago, describes it as the fund’s most direct European AI infrastructure investment, highlighting its vertically integrated approach — the company owns roughly 75% of its data center infrastructure rather than relying on leased facilities.
Nebius recently unveiled a £1.7 billion investment initiative to expand data center capacity in the United Kingdom, supported by Nvidia infrastructure, and introduced a Physical AI Living Lab designed to support robotics startups.
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