$10,000 Investment in Nebius (NBIS) Has Grown to $105,000 Since Its Return to Trading
Nebius Group (NASDAQ: NBIS), formerly part of Yandex before splitting off its Russian operations and rebranding, returned to trading on October 21, 2024. A $10,000 investment at the reopening price has grown significantly in under two years as shares now trade around $209 per share. The company's resurgence is driven by major contracts with tech giants like Microsoft and Meta Platforms (NASDAQ: META), which have signed multi-year agreements worth billions. These deals are translating into rapid revenue growth, including a 454% year-over-year increase in second-quarter earnings to $582.3 million. Despite high capital expenditures—expected to reach between $20 billion and $25 billion for the full year—the company is managing its finances through cash reserves and recent fundraising efforts.
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Topics: AI cloud computing Meta agreement Microsoft partnership Nebius Group