NEW YORK, April 13, 2026, 12:06 EDT
Nebius Group jumped 7.4% Monday, trading at $155.74 by 11:51 a.m. EDT, as demand for AI infrastructure plays stayed hot—despite Freedom Capital Markets dropping its rating to Hold. Earlier, Bank of America lifted its price target for Nebius to $175 from $150, sticking with a Buy.
The surge is significant: Nebius has become something of a bellwether for AI computing budgets as investors start hunting beyond the usual cloud giants for the next breakout. Based in Amsterdam, the company ranks among the bigger neocloud outfits—those niche operators leasing AI chips and cloud infrastructure to other tech firms. Reuters reported Nebius has ridden the same AI spending wave that’s lifted CoreWeave, its bigger competitor, as enterprise appetite for AI remains undeterred.
Analysts took opposing stances on Monday. BofA’s Tal Liani, as cited by The Fly via TipRanks, pointed to fresh contracts at Nebius and CoreWeave as evidence that AI infrastructure demand remains strong, calling Nebius a key supplier. On the other hand, Paul Meeks of Freedom Capital downgraded Nebius to Hold from Buy, even as he hiked his price target to $154 from $108. After a roughly 70% gain since early February, he sees the stock as “overbought” and prefers CoreWeave and Applied Digital for better short-term risk-reward. TipRanks
Nebius shares jumped 21.1% between last Friday’s close and Thursday, according to The Motley Fool. Fueling the rally: Cantor Fitzgerald’s new Overweight rating and a report from The Information—picked up later by Reuters—about Nebius holding takeover talks with Israeli AI firm AI21 Labs. Back in February, Reuters noted CEO Arkady Volozh told shareholders demand was still running ahead of supply, with Nebius aiming to grow “both organically and through targeted acquisitions.” The Motley Fool
For now, bulls are leaning hard on sheer scale and contract wins. On March 16, Nebius announced a five-year AI infrastructure deal with Meta, potentially totaling $27 billion—$12 billion locked in for dedicated capacity from early 2027, with up to $15 billion more possible over the full term. “We will continue to deliver,” Volozh said. Nebius
Nebius has locked in supply deals topping $40 billion with Microsoft and Meta, Reuters reported March 31. Its upcoming 310-megawatt facility in Lappeenranta, Finland is set to rank among Europe’s biggest, with phased openings starting in 2027. “Significant contribution” is how Volozh described what the new site will mean for the firm’s capacity plans. Reuters
The expansion hasn’t lacked for capital. Last month, Reuters said Nebius wrapped up $4.34 billion in convertible debt—bonds that can be turned into stock down the line—after a $2 billion warrant sale to Nvidia. “Well-funded” is how Chief Communications Officer Tom Blackwell put it, noting the company is set for 2026 capital expenditures between $16 billion and $20 billion. He also pointed to long-term contracts as a cost-effective funding route, provided they’re structured properly. Reuters
Still, the risks stand out. According to a Reuters piece from February, Nebius ramped up capital spending to roughly $2.1 billion in the December quarter, with net losses deepening to $249.6 million—even revenue soared more than six times. Any slowdown in demand, tighter financing, or a misstep on a major acquisition could leave the stock exposed after its recent surge.
Investors continue to shell out for capacity, contracts, and speed, for now. But by late morning Monday, shares had already climbed past Meeks’s freshly set $154 target—a signal that even among red-hot AI stocks, valuation’s back in focus.
