AMSTERDAM, June 17, 2026, 22:02 (CEST)
- Nebius has completed the acquisition of Eigen AI, bringing model-optimization software into its AI cloud platform.
- The stock jumped as it moves toward joining the Nasdaq-100 before the market opens on June 22.
- The focus has moved off demand. Now it’s about execution—power, chips, financing, margins.
Nebius Group spiked in late Nasdaq action Wednesday after the Amsterdam AI cloud company wrapped up its purchase of Eigen AI. The company said the deal is aimed at moving Nebius further into AI software. Nebius shares climbed around 8.4% to $287.49, after hitting $297.75 intraday, according to the latest data.
Nebius is set to join the Nasdaq-100 in a few days, a move that could bring in fresh demand from index funds and puts it alongside new AI infrastructure firms like CoreWeave and Astera Labs. Nasdaq has said the rebalance happens before the open on June 22. More than 200 products track the index, representing over $800 billion in assets worldwide.
Nebius isn’t just picking up Eigen AI for the headlines. The company is adding inference tools and model optimization tech, which could help users bring down steep GPU costs. Simply Wall St said the acquisition gives Nebius an engineering office in the Bay Area, putting it nearer to U.S. AI developers and clients.
Capacity remains the key issue. Nebius posted Q1 revenue of $399 million, up sharply from $50.9 million last year, and bumped its 2026 capex plan up to $20 billion-$25 billion, Reuters said last month. CEO Arkady Volozh said, “several customers [are] competing for every GPU” that comes online. Reuters
Nebius is putting more hardware in the UK, saying this month it plans to invest about 1.7 billion pounds across four sites. The company expects three new NVIDIA-powered builds to reach 65 megawatts once fully online in 2027. Paolo Guglielmini, NVIDIA’s EMEA vice president, called Britain “one of Europe’s most ambitious AI markets.” Nebius
Big customers have already taken on much of the growth risk. In March, Reuters said Nebius signed a five-year AI infrastructure deal with Meta Platforms, valued at up to $27 billion, after previous work with Microsoft. NVIDIA bought 8.3% of Nebius for $2 billion.
Morningstar’s Javier Correonero says Nebius isn’t a meme stock, but he called the shares overvalued after they jumped 320% in the last 12 months. Correonero called management’s strategy “the right one,” pointing to large Microsoft and Meta contracts as a bridge to higher-margin enterprise bets for Nebius. Morningstar
Wall Street price targets are lagging Nebius shares. According to a Yahoo Finance-linked report, BofA’s Tal Liani bumped his target up to $280 from $240 on June 8, sticking with his Buy rating and pointing to compute demand. But the stock last traded above $280.
Still, the trade’s risky. A Seeking Alpha note on June 13 called Nebius attractive, but flagged high valuation, infrastructure hurdles, chance of overcapacity and the threat of weaker AI demand. Eigen AI brings deeper software capabilities, but it’s one more piece to combine, on top of lining up power, building data centers and big financing requirements.
Nebius is being seen as an AI capacity play rather than a software roll-up for now. Investors now want to see if the company can deliver on its pledge to turn promised computing power and chips into live clusters, while holding on to the margins that sparked the stock’s move.
