Why Nebius Group Stock Soared Today

Shares of Nebius Group (NASDAQ: NBIS) are flying today. After surging more than 13%, the artificial intelligence (AI) cloud infrastructure company was holding on to a gain of 8.3% as of 11:38 a.m. ET.

News from the company, combined with some strong sector tailwinds, provided the boost. Word from several big tech companies that capital investments for AI infrastructure are continuing is big news for Nebius.

Nebius was created from the restructuring that came after Russian search engine company Yandex was forced to break up. All Russian assets were sold to a Russian group, and Netherlands-based Nebius was formed to focus on its core AI infrastructure business.

Source Fool.com