The Nasdaq is down 0.11% while the S&P 500 has shed 0.08%."We worked with Nebius, and they are growing incredibly fast," said Huang onstage. His presentation featured a slide displaying the Nvidia and Nebius logos separated by a heart symbol.High-Profile Validation and ClientsThe keynote slide showcased Nebius' specialized cloud offerings. Huang emphasized the quality of the company’s ecosystem, noting that "each one of these clouds has incredible customers," citing companies such as Cursor, Revolut and Shopify among its users.Institutional Backing Amplifies MomentumThe Computex spotlight follows significant institutional interest from AI industry insiders. In a recent Schedule 13G filing with the Securities and Exchange Commission (SEC), hedge fund Situational Awareness LP—managed by former OpenAI researcher Leopold Aschenbrenner—disclosed a 5.6% passive stake in Nebius, reporting a holding of 12,410,060 Class A ordinary shares.Short Squeeze Dynamics In PlayData from the latest reporting period shows short interest in Nebius increased from 43.14 million to 45.10 million shares, placing 21.1% of the public float short. Given the recent average daily volume of 19.60 million shares, short sellers face a days-to-cover metric of 2.3 days, accelerating upward price action as positions face pressure.Critical Levels To Watch For NBIS StockFrom a trend perspective, NBIS is stretched but still firmly in control: it's trading 31.9% above its 20-day SMA ($198.76) and 132.8% above its 200-day SMA ($112.59). The 20-day SMA is above the 50-day SMA and the 50-day SMA is above the 200-day SMA.