Nebius (NBIS) is an artificial intelligence (AI) cloud infrastructure company that provides full-stack GPU computing, data-center capacity, and AI tooling to developers and enterprises worldwide. Based in Amsterdam, the Netherlands, and backed by a strategic partnership with Nvidia (NVDA), Nebius has rapidly emerged as a leading neocloud challenger to hyperscalers, specializing in large-scale AI training and inference infrastructure across Europe and the United States.
Nebius just earned a new positive rating from Wall Street. Let's take a closer look at what's going on with NBIS stock.
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About Nebius Stock
Nebius has been one of most explosive performers in 2026, recently trading around $235 per share. The stock is up roughly 181% year-to-date (YTD), although it's still about 22% below the 52-week high of $299.86 per share. NBIS stock has remained volatile amid a wave of bullish analyst coverage. The company also recently signed a 12-year 50-megawatt data-center capacity deal, further fueling investor enthusiasm around its rapidly scaling AI infrastructure footprint.
By comparison, the Nasdaq 100 Index ($IUXX) has climbed roughly 23% YTD, which is itself a robust showing amid the broader AI rally. NBIS stock has dramatically outpaced the mega-cap tech benchmark, underscoring extraordinary investor enthusiasm for its AI cloud infrastructure business and expanding Nvidia-backed compute capacity.
www.barchart.com Nebius Reports Q2 Results
Nebius' second-quarter fiscal 2026 results showed total group revenue of $582.3 million, up 454% year-over-year (YOY) and roughly in-line with the $570 million to $585 million analyst consensus range. Core Nebius AI cloud revenue surged 514% YOY to $574.9 million, representing more than 98% of total group revenue. The company also posted an adjusted loss per share of $0.12, comfortably beating the consensus estimate of a $0.67 loss.
Adjusted EBITDA turned positive at $236.2 million, compared with a $21 million loss a year ago, while annualized run-rate revenue (ARR) reached $3 billion, up 598% YOY and 56% sequentially. Capital expenditures totaled approximately $5.7 billion during the quarter, driven by GPU purchases and data-center expansion, while the company ended the period with $8 billion in cash and total deferred revenue of roughly $6 billion.
Management reaffirmed its full-year 2026 guidance, targeting ARR of $7 billion to $9 billion, group revenue of $3 billion to $3.4 billion, an adjusted EBITDA margin of approximately 40%, and $20 billion to $25 billion in capex. Nebius highlighted nearly fourfold sequential growth in total contract value (TCV), with new customer TCV up more than ninefold, as customer prepayments are expected to deliver over $9 billion in upfront funding this year, easing reliance on external capital.
Nebius Receives a Fresh Rating
William Blair initiated coverage of Nebius stock on Sept. 30 with an “Outperform” rating, sending shares up roughly 3% in premarket trading. The firm highlighted the AI cloud company's balance sheet and near-term potential from software and AI services, identifying Nebius as a neocloud first mover that is able to obtain data-center capacity, power, and capital as well as deliver infrastructure to major customers like Microsoft (MSFT) and Meta Platforms (META). William Blair also noted that Nebius' next phase of growth will depend on the company expanding its offerings to compete with large cloud players.
The upgrade from William Blair comes after Nebius reported $582 million in Q2 group revenue alongside $3 billion in AI cloud ARR, reinforcing Wall Street's growing confidence in Nebius' scaling AI infrastructure business.
Should You Bet on NBIS Stock?
Nebius continues to gather strong institutional momentum, highlighted by the fresh "Outperform" rating from William Blair.
Wall Street sentiment remains solidly bullish, with NBIS stock carrying a consensus "Moderate Buy" rating overall. Out of 19 analysts with coverage, 12 have a "Strong Buy" rating, six analysts have a "Hold" rating, and just one analyst has a “Strong Sell.”
The mean price target of $287.40 implies potential upside of 22% from current levels. Driven by expanding AI cloud infrastructure demand and key institutional backing, NBIS stock represents a high-growth opportunity for tech-focused investors.
www.barchart.com On the date of publication, Ruchi Gupta did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.