NEW YORK, December 28, 2025, 23:31 ET — Market closed
- Nebius shares last closed down 3.9% on Friday at $87.59. [1]
- U.S. markets head into the final three sessions of 2025 with Fed minutes due Tuesday and thin year-end volumes. [2]
- Investors remain focused on delivery of contracted GPU capacity for Microsoft and Meta, with a Meta deployment tranche scheduled for December. [3]
Nebius Group N.V. shares fell 3.9% on Friday to close at $87.59, after trading as high as $91.62 earlier in the session. [4]
The late-week drop comes as investors head into the final three trading sessions of 2025, a period that can see lighter volumes and sharper moves as portfolios are adjusted. [5]
Nebius has become a closely watched bet on demand for graphics processing units, or GPUs — chips used to train and run artificial intelligence models — after signing multi-year capacity agreements with Microsoft and Meta Platforms. [6]
Wall Street ended Friday’s post-Christmas session nearly unchanged, with the Nasdaq Composite down 0.09% and few catalysts to drive conviction, a Reuters report said. [7]
“Handicapping how many rate cuts we’re going to get next year is a big thing markets are focused on right now,” said Michael Reynolds, vice president of investment strategy at Glenmede.
Interest-rate expectations can sway high-growth tech and AI-linked shares because higher rates tend to weigh on valuations for companies expected to generate more of their cash flows further out.
In September, Nebius disclosed it entered a five-year agreement to provide Microsoft access to dedicated GPU infrastructure capacity in tranches at a new data center in Vineland, New Jersey. [8]
That filing said the total contract value is about $17.4 billion through 2031, with the potential to rise to about $19.4 billion if Microsoft takes additional capacity and services. [9]
A separate November filing showed Nebius agreed to provide Meta access to two dedicated GPU clusters over a five-year term, with the first order valued at about $2.9 billion. [10]
The Meta services are scheduled to be deployed in two tranches during December 2025 and February 2026, the filing said. [11]
Reuters has previously reported that Nebius and larger rival CoreWeave have benefited from strong AI demand that has strained capacity even at cloud giants such as Microsoft and Amazon.
Nebius competes with U.S. “hyperscalers” such as Amazon and Google, while positioning itself as a “neocloud” provider focused on specialized AI compute, Reuters reported.
The company’s newsroom lists its most recent press release on Dec. 17, when it announced a new AI Cloud software release featuring Nvidia Blackwell Ultra compute and new capacity-management tools. [12]
Before the next session, investors will be watching Fed minutes due Tuesday and the so-called “Santa Claus rally” window — the last five trading days of the year and the first two of the next — which runs through Jan. 5, a Reuters report said. [13]
For Nebius, attention is likely to stay on execution, including progress on the December tranche of the Meta deployment and any updates tied to financing and capital spending needed to deliver contracted GPU capacity. [14]
Technically, the stock has whipsawed in December, with daily trading ranging from an intraday low of $75.25 to a high of $103.84, keeping volatility front and center going into year-end. [15]
References
1. stockanalysis.com, 2. www.reuters.com, 3. www.sec.gov, 4. stockanalysis.com, 5. www.reuters.com, 6. www.sec.gov, 7. www.reuters.com, 8. www.sec.gov, 9. www.sec.gov, 10. www.sec.gov, 11. www.sec.gov, 12. nebius.com, 13. www.reuters.com, 14. www.sec.gov, 15. stockanalysis.com
