Why Did Nebius Stock Jump Again This Week?
Artificial intelligence (AI) compute demand seems to be accelerating. That has investors jumping into any company participating in the boom. Nebius Group (NASDAQ: NBIS) certainly qualifies for that, as a provider of cloud computing infrastructure.
AI leader Nvidia has announced a series of deals supporting investment in that infrastructure. That continued this week, helping to push the sector higher. Nebius also has a deal with Nvidia, and that's the tailwind that pushed Nebius stock to a new all-time high this week. The stock dropped some from that peak, but was still about 16% higher for the week as of midday Friday, according to data provided by S&P Global Market Intelligence.
Image source: Nebius Group.
Source Fool.com
