Nebius Stock (NBIS) Today, November 28, 2025: Live Price, Mega AI Deals, Analyst Targets and Key Risks

Published: November 28, 2025 – All figures refer to this date unless stated otherwise. Prices can change intraday.

Key takeaways for Nebius stock today

Share price: Around midday U.S. trading, Nebius Group (NASDAQ: NBIS) was trading close to $94.9, slightly above Thursday’s close of $94.69. ^[1]
Volatility: The stock is still hovering roughly 30% below its 52‑week high of $141.10, despite a massive rally from last year’s levels. ^[2]
YTD performance: Depending on the source, Nebius is up around 210–240% year to date, confirming it as one of 2025’s most explosive AI infrastructure plays. ^[3]
Wall Street stance: Multiple fresh reports from TipRanks, CoinCentral and others reiterate a “Strong Buy” consensus, with an average price target near $164 and a high target at $175 – implying roughly 70–80% upside from today’s price if those forecasts play out. ^[4]
Mega contracts: Nebius has signed multi‑billion‑dollar AI infrastructure deals with Microsoft and Meta, with one Motley Fool analysis estimating about $20 billion in combined contract value over several years. ^[5]
Growth vs. losses: Q3 2025 revenue surged 355% year over year to $146.1 million with gross margins above 70%, but the company still posted a large operating loss (~$130 million) and continues to burn significant cash to build data centers. ^[6]
Funding and leverage: New analysis from GuruFocus highlights heavy capital expenditure, a 2025 CapEx target raised to $5.0 billion and roughly $4.3 billion raised in September via equity and convertible notes, underscoring ongoing dependence on capital markets. ^[7]
Institutional moves: A MarketBeat report today shows Legal & General Group Plc trimmed its stake by 26.8%, even as other institutions added positions; institutional ownership is now at least in the low‑20% range and possibly closer to one‑third, depending on the data provider. ^[8]

Nebius stock price and performance on November 28, 2025

As of early afternoon on Friday, November 28, 2025, Nebius Group N.V. shares were trading around $94.9 on the Nasdaq, modestly above yesterday’s close of $94.69 – a gain of roughly 0.2% intraday. ^[9]

Key trading and valuation metrics from today’s data providers include:

Previous close: $94.69
Intraday range (so far): roughly $93.44–$97.08 ^[10]
52‑week range: about $18.31–$141.10 ^[11]
Market capitalization: ~$23–24 billion ^[12]
Volatility: Different services peg Nebius’s beta between about 1.5 and 3.3, confirming that NBIS trades with significantly more volatility than the broader market. ^[13]

Benzinga notes that even after a sharp pullback, Nebius is more than 210% higher year to date and over 330% above its level 12 months ago, while other analyst reports put the gain closer to 242% depending on the start date used. ^[14]

In other words: today’s slight uptick is happening after a huge run‑up and a sizable correction – classic “high‑growth, high‑volatility” behavior.

What today’s Nebius headlines are saying (November 28, 2025)

Nebius is one of the most talked‑about AI infrastructure stocks today. Several new articles dropped on November 28, 2025, each highlighting a different side of the story.

1. Benzinga: 30% off the highs, but growth still roaring

A Benzinga feature titled “Nebius Dropped 30% From Highs — But Its Growth Story Didn’t” frames the stock’s roughly 30% decline from its $141.10 peak as a potential opportunity rather than a red flag. ^[15]

Key points from that piece:

Q3 2025 revenue jumped 355% year over year to $146.1 million.
Gross profit climbed to $103.2 million, putting gross margin at about 70.6% – levels more typical of mature cloud giants than a newer AI player.
Operating loss was about $130.2 million, driven largely by heavy spending on sales, marketing and R&D – described as a deliberate “scale first, optimize later” strategy rather than a broken business model.
The article also spotlights Avride, Nebius’s autonomous‑driving subsidiary backed by Uber, as a potential “hidden catalyst” that could move Nebius beyond pure infrastructure into higher‑value “applied AI.” ^[16]

Overall tone: bullish on growth and optionality, tolerant of losses.

2. CoinCentral & Parameter: Strong Buy calls on Microsoft and Meta deals

Two separate pieces – one on CoinCentral and one on Parameter.io – mostly echo each other’s upbeat take:

Nebius shares have surged around 242% in 2025, giving it a market cap near $22–24 billion. ^[17]
The company has secured multi‑billion‑dollar AI infrastructure agreements with both Microsoft and Meta, which underpin a multi‑year backlog of GPU capacity. ^[18]
Wall Street’s average 12‑month price target around $164.20 implies roughly 70–75% upside from today’s levels, with Citizens JMP initiating coverage at $175 (about 80% potential upside). ^[19]

Both outlets emphasize Nebius’s role as a “GPU‑as‑a‑Service” AI cloud provider, arguing that surging demand for AI compute could allow the company to keep utilization high across its data centers. ^[20]

3. TipRanks: Can Nebius rally again in 2026?

TipRanks published “Is Nebius Stock (NBIS) Set for Another Big Rally in 2026? Analysts Say Yes” today. The article pulls together multiple analyst notes and arrives at a strongly bullish consensus: ^[21]

Nebius is described as an AI cloud infrastructure specialist whose shares are up about 242% year to date.
New multi‑billion‑dollar contracts with Microsoft and Meta are positioned as validation that Nebius can serve blue‑chip enterprise demand at scale.
Citizens JMP analyst Gregory P. Miller has a $175 target, arguing that Nebius’s large GPU clusters and relationship with Nvidia could unlock significant value as AI compute remains supply‑constrained.
A Goldman Sachs analyst recently lifted his target from $137 to $155 while keeping a Buy rating, highlighting the Microsoft deal as a meaningful win for Nebius’s GPU cloud offering.
Across Wall Street, TipRanks counts five Buy ratings and one Hold, yielding a Strong Buy consensus and an average target of $164.20 – implying roughly 73% upside from recent prices.

The message: if Nebius keeps executing, many analysts think the story still has legs into 2026 and beyond.

4. GuruFocus: “AI dreams and borrowed billions”

Balancing the bullishness, GuruFocus ran a more cautious deep‑dive today under the headline “Nebius: The Company Built on AI Dreams and Borrowed Billions.” ^[22]

Highlights from that article:

Nebius is racing to scale its AI data centers and expects about 220 megawatts of connected power by the end of 2025, with plans for 800 MW to 1 GW by the end of 2026.
The company used roughly $450 million in capital in the first nine months of 2025 (about $600 million annualized) and raised its 2025 CapEx target from $2.0 billion to $5.0 billion.
To fund this, Nebius raised about $4.2–4.3 billion in September 2025 through a combination of Class A share offerings and convertible notes, and it still does not generate free cash flow. ^[23]
GuruFocus compares Nebius’s scale to rivals like CoreWeave, noting that competitors remain larger in terms of deployed power and that the valuation is “premium” relative to current revenue. ^[24]

Tone here: impressed by growth, but very focused on funding risk, dilution and execution.

5. MarketBeat: Legal & General trims its NBIS position

Another notable headline today comes from MarketBeat: “Legal & General Group Plc Sells 155,048 Shares of Nebius Group N.V. $NBIS.” ^[25]

From that SEC‑filing‑based report:

Legal & General Group Plc cut its Nebius stake by about 26.8% in Q2, selling 155,048 shares.
After the sale, it still holds 424,261 shares, or roughly 0.18% of the company, valued at around $23.5 million at the time of filing.
The article lists several other institutions – including Bank of New York Mellon and LPL Financial – that have initiated or increased positions in Nebius over recent quarters.
It also recaps key metrics: a market cap near $23.8 billion, 52‑week range of $18.31–$141.10, and a negative price‑to‑earnings ratio around -123, reflecting the company’s lack of profitability. ^[26]

The takeaway: some large investors are taking profits or rebalancing, but institutional ownership overall remains significant.

6. Zacks: NBIS vs. GOOGL in the AI infrastructure race

Zacks Investment Research published a comparative piece titled “NBIS vs. GOOGL: Which AI‑Infrastructure Play is the Better Buy Now?” that’s being syndicated through platforms like Yahoo Finance and trading dashboards today. ^[27]

The full article is behind technical protections, but the available summary frames:

AI infrastructure as a new investing frontier,
Nebius as an aggressive pure‑play scaling GPU capacity, and
Alphabet (GOOGL/GOOG) as the incumbent with global scale, an established cloud business and in‑house AI chips.

Rather than giving a definitive verdict we can see, Zacks appears to be highlighting the trade‑off between Nebius’s high‑growth, high‑risk profile and Alphabet’s diversified, lower‑risk AI exposure.

How the underlying business looks right now

Nebius in one paragraph

Nebius Group is a Dutch technology company headquartered in Amsterdam that builds full‑stack AI infrastructure – essentially cloud platforms with large GPU clusters for training and running AI models. It operates data centers and clusters across Europe and North America, and also owns businesses like Avride (autonomous driving) and TripleTen (ed‑tech), plus stakes in ClickHouse and Toloka. ^[28]

In simple terms, Nebius wants to be a specialist AI cloud provider: powerful GPU hardware, tuned software stack, and managed services aimed directly at AI builders.

Q3 2025 numbers: explosive top‑line, deep in the red

Between today’s coverage and the company’s own disclosures, a fairly consistent Q3 picture emerges:

Revenue: about $146.1 million, up 355% year over year.
Gross profit: about $103.2 million, with gross margin around 70–71%. ^[29]
Operating loss: roughly $130 million driven by high spending on R&D and go‑to‑market efforts. ^[30]
Trailing revenue: GuruFocus cites trailing‑twelve‑month sales around $237 million, versus just $13.5 million in 2022 and $117.5 million in 2024 – a huge ramp‑up. ^[31]
Guidance: Motley Fool coverage notes that Nebius is guiding for 2025 revenue of $500–550 million, tightening and raising prior expectations (previously around $430+ million). ^[32]

So the core business is scaling extraordinarily fast, but still burning cash heavily.

Anchor customers: Microsoft and Meta

The bull case is heavily anchored in Nebius’s mega‑customer roster:

In September 2025, Nebius announced a multi‑year agreement with Microsoft to provide dedicated AI infrastructure capacity from its new 300 MW Vineland, New Jersey data center and to finance that build‑out partly via contract‑backed debt. ^[33]
On November 11, 2025, alongside Q3 results, Nebius disclosed a new deal to deliver AI infrastructure to Meta Platforms valued at roughly $3 billion over five years. ^[34]
A recent Motley Fool/Nasdaq piece estimates that these two relationships together represent about $20 billion in combined contract value over time. ^[35]

These contracts effectively pre‑sell a large chunk of future GPU capacity, which is why so many analysts are comfortable modeling strong growth for years – at least if Nebius can build and operate the capacity on time and on budget.

Funding, dilution and the “borrowed billions” question

All of this infrastructure is extremely expensive, and that’s where today’s more skeptical analysis focuses.

GuruFocus and Nebius’s own filings outline the current funding picture: ^[36]

CapEx ramp: Nebius lifted its 2025 capital‑expenditure target from $2.0 billion to $5.0 billion, reflecting faster data‑center buildout.
Capital use so far: about $450 million used in the first nine months of 2025, or around $600 million annualized, just to keep expansion on track.
September capital raise: in a set of transactions spanning early September, the company raised roughly $4.2–$4.3 billion via:
- a public offering of Class A ordinary shares, and
- a private offering of convertible senior notes.
ATM program: Nebius has also put in place an “at‑the‑market” equity distribution agreement for up to 25 million Class A shares, working with banks including Goldman Sachs, Morgan Stanley, BofA Securities and Citigroup, giving it the ability to drip additional equity into the market over time. ^[37]

While Nebius’s balance‑sheet ratios (like current ratio and Altman Z‑Score) look strong in some third‑party models, those same services highlight very high valuation multiples (triple‑digit P/E and elevated price‑to‑sales and price‑to‑book ratios) and a stock that remains more volatile than the market. ^[38]

The simple issue today’s cautious pieces are raising: Nebius is funding a global AI build‑out largely with equity and debt before the business turns cash‑flow positive. If capital markets stay open and AI demand materializes as expected, that can work. If either assumption cracks, investors could face a painful reset.

Institutional sentiment and volatility

The Legal & General filing highlighted by MarketBeat is a useful snapshot of how big investors are reacting: ^[39]

One large holder has cut its stake by more than a quarter, locking in some profits.
But several other institutions have initiated new positions, and data providers estimate that institutional investors control somewhere between roughly 20% and 35% of Nebius’s shares. ^[40]

Combined with a high beta and the stock’s recent 30% slide from its highs, that suggests:

Plenty of liquidity and attention from professional money managers.
A price that can move sharply in both directions as sentiment swings with each new headline about AI demand, data‑center build‑outs, or financing.

How Nebius compares in the AI infrastructure landscape

Nebius sits inside a growing group of specialist “neocloud” providers like CoreWeave, Lambda and Crusoe, which focus on GPU‑heavy AI workloads rather than general‑purpose cloud. ^[41]

Compared with the big three U.S. hyperscalers:

Nebius is smaller and more concentrated in AI workloads,
but can sometimes move faster and offer more tailored capacity to AI‑first companies, and
it’s positioning itself as a partner, not a direct competitor, to giants like Microsoft and Meta via those long‑term deals. ^[42]

That niche positioning is a big part of what excites bullish analysts – and also what makes the stock inherently risky if AI spending patterns change.

What today’s news means for Nebius investors

Putting all of today’s coverage together, the story around Nebius on November 28, 2025 looks like this:

The bullish side

Hyper‑growth: Revenue growth above 300% with 70%+ gross margins is extremely rare, even in tech. ^[43]
Mega contracts: Long‑term deals with Microsoft and Meta, potentially totaling tens of billions of dollars, give Nebius a level of hyperscaler validation that few independent AI cloud platforms enjoy. ^[44]
Strong analyst support: Multiple fresh notes reiterate a Strong Buy rating and targets implying 70–80% upside versus today’s price. ^[45]
Optionality from subsidiaries: Assets like Avride (autonomous driving) could add entirely new revenue streams if they execute, which several commentators argue is barely reflected in today’s valuation. ^[46]

The cautious / bearish side

Heavy cash burn: Nebius is spending billions on infrastructure and still has negative operating income and free cash flow. ^[47]
Dependence on capital markets: Large equity and convertible‑debt raises in September, plus an active ATM share program, mean shareholders face real dilution risk if the company keeps funding growth with stock. ^[48]
Rich valuation: Even after the recent pullback, some models show triple‑digit P/E and very high price‑to‑sales ratios, leaving little room for disappointment. ^[49]
Brutal volatility: Recent articles – including from Seeking Alpha – have described the stock’s earlier sell‑offs as a “reckoning” for speculative valuations, underscoring that sharp drawdowns are part of the package with NBIS. ^[50]

For anyone following Nebius, today doesn’t fundamentally change the story – but it does sharpen it:

The growth narrative is intact and arguably stronger, backed by new analysis and big‑ticket contracts.
The funding and valuation concerns are louder, with fresh pieces explicitly calling out cash burn and dilution.
Institutional investors are actively reallocating, not ignoring the stock.

Quick FAQ about Nebius stock (NBIS)

What does Nebius actually do?

Nebius runs AI‑native cloud infrastructure – think GPU clusters, storage and software tuned specifically for AI training and inference – with data centers and R&D hubs across Europe, North America and the Middle East. It also owns AI‑adjacent businesses like Avride (autonomous vehicles) and TripleTen (tech education), and holds stakes in ClickHouse and Toloka. ^[51]

Is Nebius profitable today?

No. Nebius generates high‑margin revenue but is still loss‑making on an operating basis, as it pours money into expansion. Q3 2025 featured a large operating loss alongside rapid revenue growth. ^[52]

What are analysts’ main price targets?

Across Wall Street, recent summaries point to:

High target: about $175 (Citizens JMP)
Average target: about $164.20
Consensus rating:Strong Buy based on a majority of Buy ratings and one Hold. ^[53]

These are forecasts, not guarantees, and can change quickly as new data arrives.

What are the biggest risks to Nebius stock?

Based on today’s reporting, key risks include:

Execution risk on massive data‑center build‑outs.
Reliance on large customers like Microsoft and Meta, which can renegotiate or reprioritize spending over time.
Dilution and leverage if Nebius keeps raising capital before it reaches sustainable cash flow.
Sector competition from both hyperscalers (Azure, Google Cloud, etc.) and other neoclouds like CoreWeave and Lambda. ^[54]

Final word (and important disclaimer)

Nebius stock on November 28, 2025 sits at the intersection of explosive AI growth, headline‑grabbing mega deals, and extremely heavy capital spending. Today’s news flow leans bullish on the long‑term opportunity but also increasingly vocal about the financial and valuation risks required to pursue it.

This article is for information and news/education purposes only and is not investment advice.
It doesn’t take into account your individual objectives, financial situation or risk tolerance. Always do your own research and consider speaking with a licensed financial adviser before making any investment decisions.

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