BNP Paribas Initiates CoverageAdding to the stock’s momentum, BNP Paribas initiated coverage on Nebius Group on Tuesday. The firm announced a Neutral rating alongside a price forecast of $255, arriving just as the company rides a wave of continued momentum from record-breaking quarterly financials.High-Profile Institutional BackingMassive French AI Infrastructure DealLeadership Perspective On InfrastructureThe investments underscore a tightening global race for computing capacity. “AI is entering a new era, and the countries that build the infrastructure for this transformation will shape the future of technology, industry and society,” SoftBank CEO Masayoshi Son said in a statement over the weekend.NVIDIA Endorsement Adds To MomentumCritical Levels To Watch for NBIS StockEven with Nasdaq futures down 0.09% while S&P 500 futures have shed 0.20%, NBIS is pushing higher premarket, which points to stock-specific momentum overpowering the softer index tone.From a trend standpoint, the stock is extended above every major moving average: about 35.9% above the 20-day SMA ($204.26) and roughly 144.4% above the 200-day SMA ($113.56). The 20-day SMA remains above the 50-day SMA, and the 50-day SMA is above the 200-day SMA—two bullish crossover signals that confirm the longer-term uptrend is still intact.Momentum is the bigger near-term question, and RSI is the cleanest lens right now: at 73.86, it’s in overbought territory.