Nebius Group just reminded Wall Street that the AI infrastructure trade isn’t a two-horse race. The European cloud provider’s stock jumped 18% on May 13 after posting first-quarter revenue of $399 million, a figure that represents roughly an eightfold increase from the same period a year ago.
The numbers behind the rally
Nebius, trading on the Nasdaq under the ticker NBIS, operates large-scale GPU clusters designed specifically for AI computation.
For context, the company is a spin-off from Yandex, the Russian search giant that restructured its international operations. Nebius emerged from that split as a standalone entity focused entirely on AI infrastructure.
Adding fuel to the story: Nvidia disclosed a 9.3% ownership stake in Nebius in July, a vote of confidence from the company whose chips sit at the center of virtually every AI data center on the planet.
