NBIS
Nebius Group N.V.

Nebius Group N.V.NBIS

Communication Services · Internet Content & Information
236.12USD
+1.43%
Sep 23, 2026
NBIS overview ready
Direct operator of full-stack accelerated AI cloud infrastructure
Nebius is a direct operator and commercial provider of AI cloud capacity: it builds and operates full-stack accelerated-compute infrastructure and sells managed GPU/AI capacity to AI-native and enterprise customers.
Strong narrative exposure
Exposed to the AI Compute Infrastructure Buildout narrative through AI Cloud Capacity and Powered Land — infrastructure supplier.
An early price trend
Longer-term context reads new trend, with a near-term setup of daily advance.
Demanding valuation
Nebius Group N.V.
Fundamentals under pressure
Ev / sales is weak.
Primary risk
High leverage with $2.15B net debt.
Market Sep 22Price action Sep 22Research Aug 30

Conviction Level

NarrativeHeat9.5ThemeHeat9.2PriceAction8.6Valuation0.3CompanyPosition9.3
Price
Loading price history…

Price Action

An early price trend
Longer-term context reads new trend, with a near-term setup of daily advance.
EntryReset + recovery

The recent reset toward the daily SMA100 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$53.3B
Avg Volume (60D)
21.7M
60 sessions
Revenue Growth YoY
+460.9%
Trailing twelve months
Gross Margin
+74.3%
Operating Margin
-49.3%
Trailing twelve months
Free Cash Flow Yield
-18.0%
Distance from 200DMA
+45.7%
Next Earnings
2026-11-10
EV / EBITDA
213.3x
EV / Sales
40.5x
Market metrics as of Sep 23, 2026

Fundamentals & Valuation

Both valuation perspectives agree this company is expensive.
Nebius Group N.V. has an Expensive valuation stance because the price embeds expectations that run ahead of the growth it delivers per turn of revenue multiple.

What changed

  • Nebius Tanked This Month: A Resolute Wall Street Pro Expects 95% Gains Over The Next Twelve
    Dated 2026-09-15.
    2026-09-15 · source
  • Oracle Slides 5% as Layoff Costs Outweigh Ellison’s Canceled $7.5B Stock Sale; Nebius and CoreWeave Fall 5%
    Dated 2026-09-14.
    2026-09-14 · source
  • Rumble Soars 10% on Report Anthropic Is the $13.7B Compute Customer; CoreWeave and Nebius Drop 9%
    Dated 2026-09-14.
    2026-09-14 · source
  • Nebius CEO Volozh estimates $250 billion in capex spend by 2030
    Dated 2026-09-11.
    2026-09-11 · source

Company Research

Thesis
Nebius is a direct operator and commercial provider of AI cloud capacity: it builds and operates full-stack accelerated-compute infrastructure and sells managed GPU/AI capacity to AI-native and enterprise customers.
Opportunity
High opportunity
The race to secure powered sites, data-center shells, financing, accelerator systems, and operable cloud capacity for large-scale AI training and inference workloads.
Key risk
High leverage with $2.15B net debt.

Narrative & Theme

AI Compute Infrastructure Buildout
Part of AI Cloud Capacity and Powered Land, with strong fit.
NBIS has a strong, direct thematic connection to AI compute buildout rather than a generic AI adjacency.
Narrative HeatHot9.5 / 10
Theme HeatHot9.2 / 10

Business & Markets

Communication Services · Internet Content & Information
What they do

Nebius Group N.V. Builds and operates full-stack infrastructure to support the global AI industry, including large-scale GPU clusters, cloud platforms, and developer tools, while also offering technology solutions in edtech and autonomous driving.

How it earns

The company generates revenue primarily through infrastructure services and platform subscriptions, alongside project-based technology development.

Products & services
Full-stack AI infrastructure (GPU clusters, cloud platforms, developer tools)
TripleTen edtech platform
Avride autonomous driving technology
Customers & end markets
AI developers and enterprises
Technology professionals seeking re-skilling
Autonomous vehicle and robotics sectors
Market position

Niche player focused on vertically integrated AI infrastructure with complementary technology platforms.

Demand drivers
Medium cyclicality

Demand for AI infrastructure and related technologies is growth-driven but can be affected by broader technology spending cycles.