Nebius Group N.V. (NBIS) Stock Today, November 25, 2025: Price, Meta & Microsoft Deals, Analyst Targets and Fresh News

Nebius Group N.V. (NASDAQ: NBIS), the Amsterdam‑based AI infrastructure provider spun out from Yandex, remains one of the most volatile — and most closely watched — stocks in the AI trade.

After a nearly 10% surge on Monday, Nebius shares are easing back in Tuesday’s session as investors digest blockbuster contracts with Microsoft and Meta, heavy capital spending, and a flood of fresh analyst and fund commentary. At the same time, new 13F filings show some institutions aggressively adding to positions while others lock in profits, underscoring how polarizing the stock has become. ^[1]

Below is a detailed look at NBIS stock on November 25, 2025 — including today’s price action, the key news items dated November 25, the latest on its Meta and Microsoft deals, and how Wall Street is valuing the AI cloud specialist.

Nebius (NBIS) Stock Price Today – 25 November 2025

As of around 12:45 p.m. ET on November 25, 2025, Nebius shares are trading around $90 per share, down roughly 1.5–2% on the day from Monday’s close near $91.90, according to real‑time data from Google Finance and Finviz. ^[2]

Key intraday and trailing metrics:

Intraday range (so far): roughly $84.7 – $91.3, reflecting a swing of around 7–8% between the low and high. ^[3]
Previous close (24 Nov 2025): about $91.9, up ~10% from Friday’s close around $83.3. ^[4]
52‑week range: $18.31 – $141.10 — even after the correction from October’s peak, NBIS is still up nearly 5× from its 52‑week low and about 36% below its high. ^[5]
Market capitalisation: roughly $22.7 billion. ^[6]
Average daily volume (30 days): around 21 million shares, highlighting heavy trading and strong retail interest. ^[7]

In other words, today’s modest pullback is happening against the backdrop of a huge year‑to‑date rally: TipRanks estimates Nebius is up about 230% in 2025, even after the recent AI sell‑off. ^[8]

What’s New on 25 November 2025? Key Nebius Headlines

Several new items dated November 25, 2025 help explain sentiment around NBIS today.

1. Steward Partners massively boosts Nebius stake

A fresh MarketBeat “instant alert” shows Steward Partners Investment Advisory LLC increased its Nebius position by a staggering 15,153% in Q2 2025, according to its latest 13F filing. ^[9]

Steward Partners bought 318,678 additional Nebius shares, ending the quarter with 320,781 shares, worth roughly $17.8 million at the time of the filing. ^[10]
The position represents about 0.14% of Nebius’s shares outstanding, signalling that at least some wealth managers view NBIS as a core AI infrastructure holding rather than just a short‑term trade. ^[11]

MarketBeat’s summary also notes aggressive buying from other institutions, including JPMorgan Chase, which lifted its Nebius holdings by about 297% to 848,336 shares (roughly $46.9 million at the time), and new positions from firms such as Tableaux LLC and Handelsbanken Fonder AB. Overall, institutional investors own around 22% of the free float, still leaving plenty of room for retail‑driven volatility. ^[12]

2. Vestor Capital almost exits its position

In contrast, another MarketBeat alert published today shows Vestor Capital LLC has largely exited Nebius: ^[13]

Vestor cut its stake by 99.5% in Q2, selling 133,486 shares and ending the period with just 727 shares worth about $40,000. ^[14]

The pair of filings — one showing a major build‑up, the other near‑total profit‑taking — neatly illustrates where Nebius sits in the AI cycle: big money is clearly interested, but not unanimously convinced.

3. Analysts say Nebius has the highest upside in a key AI trio

A new TipRanks feature published today compares three AI‑linked names — Vertiv (VRT), Palantir (PLTR), and Nebius (NBIS) — to find which offers the greatest upside, based on Wall Street targets. ^[15]

On Nebius specifically, TipRanks highlights:

Q3 revenue growth of 355%, driven by surging AI infrastructure demand. ^[16]
A $17.4 billion GPU‑as‑a‑Service contract with Microsoft and a $3 billion AI infrastructure deal with Meta Platforms as the twin pillars of Nebius’s backlog. ^[17]
The company’s plans to expand contracted power from 1 GW to about 2.5 GW by 2026, reflecting aggressive data‑centre build‑out. ^[18]

TipRanks notes that Citizens JMP recently initiated coverage with a $175 price target and a bullish rating, arguing that the Microsoft and Meta deals validate Nebius as a major global AI infrastructure supplier and that its historical ties to Russia are now “sufficiently cut” for security‑sensitive customers. ^[19]

Across all tracked analysts, TipRanks shows a Strong Buy consensus with five Buy ratings and one Hold, and an average Nebius price target of about $164, implying close to 80% upside from recent levels. ^[20]

4. TS2 recap: Monday’s 10% surge and the “bubble vs. moat” debate

A detailed TS2.Tech piece, dated today but covering Monday, November 24 trading, describes Nebius stock soaring nearly 10% on renewed enthusiasm around: TS2 Tech+1

The $3 billion Meta deal,
Nebius’s planned Finland AI campus, which could generate an estimated $650–$900 million in annual recurring revenue in the coming years, and
Upcoming appearances at the UBS Global Technology and AI Conference in early December. TS2 Tech

The article frames the bull case around:

Nebius as a pure‑play AI infrastructure provider with large‑scale Nvidia GPU clusters in Europe and the U.S.;
The $17.4B Microsoft and $3B Meta contracts serving as a multi‑year revenue backbone;
Sold‑out GPU capacity in Q3, prompting a rapid expansion from 1 GW to ~2.5 GW of contracted power by 2026. TS2 Tech+2Reuters+2

And the bear (or skeptic) case around:

Massive capital intensity — nearly $1 billion in Q3 capex and negative EBITDA;
Extreme volatility, including a ~40% drawdown from October highs despite year‑to‑date gains;
A valuation that leaves little margin for error if deals slip or GPU supply gets delayed;
Heavy dependence on a small handful of mega‑customers (Microsoft, Meta and a few others). TS2 Tech+2Reuters+2

TS2’s conclusion is essentially that Nebius remains a high‑beta AI growth story, with fundamentals strong enough to justify optimism but not yet strong enough to eliminate bubble fears.

5. Opinion pieces: “next Nvidia?” and “$10,000 to millionaire?” themes

Nebius also features heavily in a series of new and recent opinion pieces:

Finviz’s news feed shows multiple articles today and in recent days with headlines along the lines of “Is This Underrated AI Infrastructure Stock the Next Nvidia?”, “2 AI Infrastructure Stocks to Buy on the Dip”, and “Where Will Nebius Stock Be in 1 Year?”, almost all focusing on Nebius’s hyperscaler deals and explosive share‑price move. ^[21]
A Motley Fool article syndicated via AOL — “Could Investing $10,000 in Nebius Stock Make You a Millionaire?” — published this morning, explores whether the Microsoft and Meta contracts could support compounding returns big enough to justify today’s lofty multiples. ^[22]

These opinion pieces lean decidedly bullish, but they also emphasise key risks: rich valuation metrics, heavy spending, and the chance that AI demand might normalise faster than markets expect.

6. Fund commentary and retail sentiment

A Q3 2025 portfolio review from Alger American Asset Growth Fund, published today on Seeking Alpha, includes Nebius among its AI‑infrastructure holdings, underlining that active growth managers are building positions alongside retail traders — though the full text sits behind a paywall. ^[23]
On the retail side, there’s even a dedicated Reddit community for NBIS, with a “[November 25, 2025] Daily NBIS Discussion Thread” live today, inviting traders to share rumours, outlooks and positioning. ^[24]

Together, these signals confirm that Nebius is firmly at the centre of the current AI‑stock conversation, both among professionals and retail investors.

Fundamentals: Q3 2025 Earnings, Meta & Microsoft Deals

While today’s commentary focuses on price targets and trading, Nebius’s story is rooted in a whirlwind set of fundamental developments over the past few months.

Q3 2025 results: explosive growth, deeper losses

On November 11, 2025, Nebius reported unaudited Q3 2025 results: ^[25]

Revenue:
- Q3 2025 revenue of $146.1 million, up 355% year‑on‑year from $32.1 million in Q3 2024.
- Nine‑month 2025 revenue of $302.1 million, up sharply from $56.3 million a year earlier.
Profitability:
- Q3 net loss from continuing operations of about $119.6 million, widening from a $43.6 million loss a year ago.
- Heavy non‑cash items (depreciation, share‑based compensation) and early‑stage scale‑up costs remain significant.
Capital expenditure & cash flow:
- Capex ballooned to $955.5 million in the quarter (vs. $172.1 million in Q3 2024), mostly for GPUs, land and power‑related investments. ^[26]
- Net cash used in operating activities from continuing operations reached $80.6 million in Q3, and Nebius spent more than $2.0 billion on capex year‑to‑date. ^[27]

On the balance sheet, as of September 30, 2025 Nebius reported: ^[28]

Cash and restricted cash of $4.92 billion,
Total assets of $10.1 billion,
Total liabilities of $5.29 billion, including about $4.09 billion of non‑current debt, largely stemming from recently issued convertible notes.

That leverage and spending profile is a big part of why some commentators talk about a “debt bomb” in Nebius and its peers. ^[29]

The $3B Meta deal and $17.4B Microsoft contract

The two contracts that define the Nebius investment case right now:

Meta Platforms deal – $3 billion over five years
- Reuters reports that Nebius has signed a roughly $3 billion contract with Meta to supply AI infrastructure over five years. ^[30]
- Nebius plans to deploy the capacity required for the Meta deal within about three months, and says demand was strong enough that the contract had to be capped by currently available capacity. ^[31]
Microsoft GPU‑as‑a‑Service contract – $17.4 billion
- Previous disclosures and today’s TipRanks/TS2 coverage reference a $17.4 billion GPU‑as‑a‑Service (GPUaaS) agreement with Microsoft, making it Nebius’s second major hyperscaler contract. ^[32]

Nebius says these deals helped push its annualised run‑rate revenue (ARR) to about $551 million by the end of September and that it is targeting $7–9 billion in ARR by the end of 2026 — an extraordinarily steep ramp‑up that will require flawless execution and continued GPU availability. ^[33]

Dilution risk: ATM equity program and convertible notes

Alongside Q3 results, Nebius announced an at‑the‑market (ATM) equity program allowing it to sell up to 25 million Class A shares over time, adding to the $3.16 billion in convertible notes and $1.15 billion equity raise it has already executed this year. ^[34]

Management frames this as necessary to fund rapid build‑out of AI data centres, but many traders see it as a key driver of post‑earnings share‑price weakness, since additional share issuance could dilute existing holders.

Valuation and Risk: Growth Priced for (Near) Perfection

Even after the recent pullback, most valuation services agree: Nebius is priced at a premium to almost everything else in its peer group.

Extreme revenue multiples

According to Yahoo Finance and other data providers:

Nebius currently trades at a trailing price‑to‑sales (P/S) ratio of around 60x, and an enterprise‑value‑to‑revenue multiple in the high‑50s. ^[35]
GuruFocus estimates Nebius’s P/S around 60–63x, noting this is higher than roughly 98% of companies in the broader interactive media space, where the median P/S is under 2x. ^[36]

These numbers reflect how aggressively investors are capitalising Nebius’s current revenue base in anticipation of the Meta/Microsoft‑driven ramp to multi‑billion‑dollar ARR.

Volatility metrics: beta, options and drawdowns

On the risk side:

MarketBeat and others put Nebius’s beta at around 3.3, meaning it tends to move more than three times as much as the overall market on a given day. ^[37]
Options data for NBIS show implied volatility near 100%, indicating traders expect very large price swings over the coming months. ^[38]
Seeking Alpha and TS2 note that after hitting highs around $141, Nebius experienced a drawdown of roughly 35–40%, even though the stock remains up well over 200% year‑to‑date. TS2 Tech+2TipRanks+2

Put simply: this is not a sleep‑well‑at‑night stock. Nebius’s fundamentals may be improving rapidly, but its share price is moving even faster, in both directions.

How the Market Seems to Be Framing Nebius on 25 November 2025

Taking today’s price action and the November 25 headlines together, the current narrative around Nebius looks something like this:

The bull case in one glance

Pure‑play AI infrastructure: Nebius offers full‑stack AI cloud capacity built around large Nvidia GPU clusters in Europe and the U.S., making it a rare alternative to the U.S. hyperscaler oligopoly. ^[39]
Two giant hyperscaler contracts (Microsoft and Meta) provide multi‑year revenue visibility and validate Nebius’s technical capabilities and geopolitical de‑risking. ^[40]
Explosive revenue growth — 355% in Q3 alone — and a 2026 ARR goal of $7–9B suggest current revenue is just the starting point if execution is strong. ^[41]
Analyst backing: a Strong Buy consensus, average targets between roughly $145 and $165, and some price objectives above $200 all point to substantial perceived upside from here. ^[42]

The bear (or skeptic) case in one glance

Capital intensity: nearly $1B in quarterly capex and big negative free cash flows raise the question of whether Nebius can ever earn enough on this asset base to justify today’s valuation. ^[43]
Leverage and dilution: more than $4B in debt, a large ATM equity program and prior equity raises all translate into ongoing dilution and balance‑sheet risk, especially if the AI cycle slows. ^[44]
Valuation risk: with revenue trading at around 60x sales, even small disappointments on growth, GPU availability, power contracts or customer concentration could trigger sharp corrections. ^[45]
Speculative positioning: high beta, high implied volatility, heavy retail participation and active options trading mean NBIS can move violently on headlines, not just on fundamentals. ^[46]

On November 25, the market reaction — a relatively mild pullback after Monday’s pop — suggests investors are still recalibrating between those two narratives. The new 13F filings and analyst notes tilt slightly bullish, but they’re hitting a stock that already embeds a lot of good news.

What to Watch Next

For anyone following Nebius into year‑end 2025 and beyond, the main near‑term checkpoints coming out of today’s coverage are:

Updates at the UBS Global Technology & AI Conference (early December)
Investors will be listening for new details on capacity expansion, GPU procurement, pricing power and any additional hyperscaler or large‑enterprise contracts. TS2 Tech
Progress on the Finland AI campus and other data‑centre builds
Execution on key campuses, especially in Finland, will determine whether Nebius can realistically reach its stated $7–9B 2026 ARR goal without blowing up its balance sheet. TS2 Tech+1
ATM usage and capital‑structure moves
Markets will watch Nebius’s ATM equity program and any further debt issuance closely; a more conservative capital plan could support the bull case, while aggressive issuance could reinforce the debt‑bomb narrative. ^[47]
Regulatory, power and GPU‑supply developments
Because Nebius depends on access to enormous amounts of electricity, GPUs and compliant data‑centre sites, any changes in European power policy, supply chains or export controls will be material.

Bottom line on Nebius stock today

On November 25, 2025, Nebius Group N.V. is:

Trading around $90 per share, slightly lower on the day but still up several hundred percent over the last year;
Backed by two mega‑deals with Microsoft and Meta, and hyper‑growth revenue numbers;
Under close scrutiny from both institutional investors and retail traders, as shown by new 13F filings and daily social‑media chatter;
Priced at extreme revenue multiples that assume its AI data‑centre build‑out goes largely according to plan.

For traders, NBIS remains a high‑beta, high‑IV vehicle tied to the broader AI cycle. For longer‑term investors, it’s a pure‑play bet on AI infrastructure capacity — with all the upside that entails, and all the execution and valuation risk that comes with it.

Why Is Everyone Talking About Nebius Stock? | NBIS Stock Analysis