Where Will Nebius Be in 1 Year?
Nebius (NASDAQ: NBIS) has been one of the most explosive stocks on the market this year. The artificial intelligence (AI) cloud infrastructure, or neocloud, company evolved out of the Russian tech company Yandex, which was delisted from the Nasdaq after Russia invaded Ukraine. The company sold off its Russian assets and rebranded as Nebius, based in Amsterdam.
Now, Nebius is one of the fastest-growing stocks on the market. In the second quarter, revenue jumped 625% to $105.1 million, and the stock is up a whopping 424% this year, outpacing virtually every other AI stock on the market.
Nebius surged by nearly 50% in one session after it announced a blockbuster deal with . The tech giant signed a contract for $17.4 billion in GPU services through 2031. This shows that despite the company's relatively low revenue, it's bringing in billions in contract commitments. Nebius' larger peer, CoreWeave, is also delivering massive growth, with its revenue up 207% in the second quarter to $1.21 billion.
Source Fool.com
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