Why Nebius Stock Is Rocketing Higher This Week
Nebius Group (NASDAQ: NBIS) surprised investors with a big business deal, sending its stock soaring by nearly 50% on Tuesday. As of Thursday afternoon trading, Nebius shares were up by 40% for the week, according to data provided by S&P Global Market Intelligence.
The huge deal with tech giant was worth more than Nebius' entire market cap at the time of the announcement. Nebius provides advanced cloud computing services used for artificial intelligence (AI) workloads.
Its graphics processing unit (GPU)-as-a-Service, known as neocloud, provides cost-efficient solutions typically for smaller-scale users that don't need the capacity of broad-service hyperscalers like Microsoft. Investors were thus shocked when a large cloud provider like Microsoft signed up for a big deal with Nebius.
Source Fool.com
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