Nebius AI Cloud Stock Surges 424% Amid $17.4B GPU Deal

Nebius (NBIS 1.24%), the Amsterdam-based AI cloud infrastructure spin-off from Russia's Yandex, has become one of the market's most explosive growth stories. Second-quarter revenue skyrocketed 625% to $105.1 million, while shares have gained 424% year-to-date—outpacing nearly every AI-related stock.

The company's trajectory shifted dramatically after announcing a $17.4 billion GPU services contract through 2031 with an undisclosed tech giant, triggering a 50% single-session price jump. This deal underscores how niche cloud providers are capitalizing on the AI compute Gold rush, despite competing against hyperscalers projected to spend $300 billion on data center expansion.

While dwarfed by hyperscalers' scale, Nebius and peers like CoreWeave demonstrate the blistering demand for specialized AI infrastructure. CoreWeave's 207% revenue growth to $1.21 billion last quarter mirrors the sector's expansion as enterprises scramble for GPU capacity.