Nebius Group Stock Is Soaring. Here's Why.
Nebius Group stock is up nearly 30% in the last week.
Nebius Group Stock Is Soaring. Here's Why.
Overview
Nebius Group (NASDAQ:NBIS) has come a long way in a short time. The company was formed in 2024, emerging from the remnants of the Dutch holding company Yandex N.V., which was primarily a Russian internet company. But after Russia invaded Ukraine and Russian companies faced sanctions, Yandex shed its Russian assets and rebranded as Nebius, an artificial intelligence cloud services company.
The newly formed Nebius began trading on Nasdaq on Oct. 21, 2024, and has been one of the biggest winners in the market ever since. The stock is up 1,320% since Nebius began trading, by far outperforming the overall market as investors recognized the critical role that data centers and computing capacity will have on the growth of AI. Shares jumped nearly 30% in the last week and are challenging the $300 mark.
Details
Now, Nebius is getting some more good news -- starting June 22, it will be a member of the Nasdaq-100 index, meaning the stock will be scooped up by many index funds, potentially pushing shares even higher.
Source
Originally published at www.fool.com.
