Nebius Group (NBIS) shares surged as much as 9% on Thursday, reaching an intraday high of $248.90, after bullish analyst moves focused on the company’s AI cloud pricing power and rising demand for high-end Nvidia GPU computing capacity.
BNP Paribas Exane upgraded Nebius to Outperform from Neutral and raised its price target to $399 from $260. Bank of America reiterated its Buy rating with a $310 target while lifting revenue expectations for 2026, 2027, and 2028.
Bank of America analyst Tal Liani noted that Nebius uses long-duration hyperscaler contracts to establish stable infrastructure utilization while reserving part of its capacity for one- to three-year contracts priced at roughly 2x hyperscaler rates. This mix could help revenue per watt exceed current estimates.
The stock also benefited from news that Nebius will raise on-demand Nvidia GPU prices from October 1, affecting H100, H200, B200, and B300 chips by roughly 17% to 21%, with H100 rates moving from $3.85 to $4.50 and H200 from $4.50 to $5.40. AMD EPYC Genoa CPU pricing is expected to rise about 25%, marking the second round of increases in roughly three months.
Nebius reported Q2 AI cloud revenue of $574.9 million and an adjusted EBITDA margin near 50%, though $7.8 billion of infrastructure was not yet in use. It also has large contracts with Meta Platforms and Microsoft expected to wrap up early next year.
JPMorgan upgraded CoreWeave to Overweight from Neutral and lifted its target to $125 from $120, with CoreWeave shares rising about 4% to $90.14. Nebius has climbed 193% year to date, with a market cap near $64.19 billion and average volume near 20.4 million shares.
The broader market traded lower, with the Nasdaq down 0.5%, indicating the rally was company-specific.
