Nebius Stock Jumps as Meta’s AI Spending Reset Puts $27 Billion Deal in Focus

29 April 2026

Amsterdam, April 29, 2026, 22:04 CEST

Nebius Group N.V. jumped 5.3% to $142.73 late in regular U.S. trading on Wednesday, as the AI cloud specialist continued to draw investor focus. CoreWeave tacked on 8.4%. Nvidia slipped 2.1%.

Why it matters now: Meta Platforms, a top Nebius client, bumped its capital spending outlook for 2026 to $125 billion-$145 billion, up from the previous $115 billion-$135 billion, after the U.S. market closed. The company pointed to pricier components and additional data center expenses. Capital expenditures cover big-ticket items like servers, network equipment, and buildings.

For Nebius, this isn’t simply a general AI play. Back in March, the company announced Meta would purchase $12 billion in dedicated capacity starting early 2027—and if Nebius can’t line up other buyers, Meta has the option to add as much as $15 billion more over five years. That puts the maximum potential value of the deal at $27 billion.

Investors are left weighing if Nebius can turn its hefty backlog into usable capacity before expenses spiral. In February, the company posted fourth-quarter 2025 revenue at $227.7 million—a 547% jump—while net loss from continuing operations came in at $249.6 million. For 2025, property and equipment purchases soared to $4.07 billion.

Nebius lined up $4.3375 billion in March through a convertible-note offering to help fund the expansion. The company said the money is earmarked for data centers, GPUs, its full-stack AI cloud and scaling up its presence. Convertible notes, as a reminder, are debt that can be swapped for equity down the line.

After the debt raise, Tom Blackwell, chief communications officer at Nebius, told Reuters the company is “well-funded” for its $16 billion to $20 billion capital spending plans set for 2026. Large customer contracts, he added, can serve as “a very efficient source of capital” with the right structuring. Reuters

The expansion is picking up pace on both sides of the Atlantic. On March 31, Nebius announced plans for a 310-megawatt AI factory in Lappeenranta, Finland, aiming to bring its first capacity online by 2027. CEO Arkady Volozh described the project as a “significant addition” to Nebius’s global infrastructure play. Nebius

Nebius isn’t just pushing GPU hours anymore. With its AI Cloud 3.5 update, the company rolled out serverless AI, so developers can spin up workloads without touching the backend infrastructure. GPU choices for inference also got a boost—users can access more options when it’s time for a trained model to generate results.

Nvidia’s partnership adds a fresh angle. On March 11, Nvidia announced a $2 billion investment in Nebius and detailed plans to collaborate on future hyperscale cloud projects, spanning several Nvidia infrastructure generations. CEO Jensen Huang summed it up: “AI is at another inflection point.” NVIDIA Investor Relations

The flipside to Nebius’s rapid growth? It’s hard to miss the risks. In its annual filing, the company flags CoreWeave, Crusoe, and Lambda as key specialist competitors. The business burns through capital, hasn’t hit profitability, faces pricing squeeze, and needs to lock in power, GPUs, and continued funding on favorable terms.

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Khadija Saeed is a financial markets reporter at TS2.tech. Her coverage ranges from stocks and technology to emerging industries and developments across global markets. She studied economics and finance at the London School of Economics and worked in market research before becoming a financial journalist. Follow Khadija Saeed on Google News.

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