Nebius Group N.V.

NASDAQ Global Select
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Slightly Bullish +25

Nebius Stock: 18% Rally Explained

📈 Nebius stock rallied 18% after Nvidia disclosed holding a 9.3% stake in the company.

🔒 The majority of Nvidia's shares are locked until September 2026, meaning no new capital was injected via this disclosure.

🚀 Revenue grew 479% from FY24 to FY25 as Nebius scales its AI cloud infrastructure business.

💰 Q4 2025 marked the company's first quarter of positive EBITDA.

💵 Nebius secured $775 million in debt financing to resolve prior capital expenditure funding gaps.

⚠️ Net debt is projected to increase meaningfully following the second quarter of the current year.

📊 The stock trades at a forward EV/revenue multiple between 16x and 17x.

🧐 Analysts remain neutral on the stock, waiting for proof of revenue outperformance.

Bullish Signals
  • Nebius achieved its first positive EBITDA in Q4 2025, signaling a transition toward profitability.
  • Revenue surged by 479% between fiscal years 2024 and 2025, demonstrating strong top-line growth.
  • The company successfully secured $775 million in debt financing to address previous capital expenditure funding gaps.
Risk Factors
  • Net debt is expected to rise meaningfully after the second quarter of the current year.
  • Analysts maintain a neutral stance pending evidence that revenue growth will outperform expectations.
Full Analysis
Nebius Group N.V. (NBIS) shares surged 18% following news that Nvidia disclosed a 9.3% stake in the company. However, the article clarifies that this disclosure does not represent new capital inflow, as the majority of these shares remain locked until September 2026. The AI cloud infrastructure provider has demonstrated significant growth, with revenue increasing by 479% between fiscal years 2024 and 2025. Additionally, the company achieved its first positive EBITDA in Q4 2025, marking a key milestone in its profitability journey. To address previous capital expenditure funding gaps, Nebius secured $775 million in debt financing. Despite this infusion, net debt is expected to rise meaningfully after the second quarter of the current year. Analysts maintain a neutral stance pending concrete evidence of revenue outperformance relative to these high valuations.