The Dutch cloud provider, spun from Yandex’s international assets, has locked in tens of billions in contracts with Nvidia, Microsoft and Meta as demand for AI infrastructure outpaces supply
Nebius Group Inc. (NBIS) will join the Nasdaq-100 Index on June 22, capping a meteoric rise for the AI cloud infrastructure firm whose shares have surged 1,320% since its Nasdaq debut in October 2024. The stock has emerged as one of the biggest winners of the global artificial intelligence boom, far outpacing the broader market as investors bet on the critical role of data center capacity in AI expansion.
Nasdaq announced the quarterly rebalancing on June 11, adding Nebius alongside Astera Labs Inc., CoreWeave Inc., Rocket Lab USA Inc. and Teradyne Inc. to the benchmark. Charter Communications Inc., Cognizant Technology Solutions Corp., Insmed Inc., Verisk Analytics Inc. and Zscaler Inc. will be removed from the index.
Shares of Nebius, which trades under the ticker NBIS, climbed nearly 5% on the day of the announcement and extended gains in after-hours trading. With more than 200 investment products tracking the Nasdaq-100 and over $800 billion in assets under management tied to the index, inclusion will trigger mandatory purchases by passive funds, boosting liquidity and broadening the company’s institutional investor base.
Headquartered in the Netherlands, Nebius was formed in 2024 from the international assets of Dutch holding company Yandex N.V., following the restructuring of the Russian-founded internet group amid sanctions. The rebranded company has positioned itself as a full-stack AI-native cloud provider, specializing in GPU computing capacity and data center services for AI training and inference workloads.
As of the end of 2025, Nebius operated seven data centers across North America, Europe and Israel. It plans to expand its footprint to 16 facilities by the end of 2026 to address the widening global shortfall in AI compute supply.
The company’s explosive growth has been anchored by landmark partnerships with the world’s largest technology players. In March 2026, Nvidia Corp. made a $2 billion strategic investment in Nebius to scale more than 5 gigawatts of next-generation full-stack AI capacity built on Nvidia’s computing platform.
That same month, Nebius signed a five-year AI infrastructure agreement with Meta Platforms Inc. worth up to $27 billion, combining $12 billion in committed dedicated capacity with up to $15 billion in flexible procurement options. The deal follows an earlier five-year contract with Microsoft Corp. valued at up to $19.4 billion, under which Nebius will supply more than 100,000 Nvidia GPUs.
On June 10, Nebius completed its acquisition of Eigen AI, an inference and model optimization firm. The purchase is expected to strengthen Nebius’ token factory inference platform, cutting time-to-production for customers and enabling faster adoption of new AI models.
That pipeline of deals has already translated into blockbuster financial results. First-quarter revenue reached $399 million, a 684% increase from the same period a year earlier. Net income from operations hit $621.2 million, swinging from a loss of $104.3 million in the first quarter of 2025.
Management has guided for 2026 full-year revenue of $3 billion to $3.4 billion, with annual recurring revenue on track to reach $7 billion to $9 billion. The company held $9.3 billion in cash at the end of the first quarter, after raising $6.3 billion during the period through convertible notes and the Nvidia investment, giving it ample capital to fund its aggressive expansion.
So far in 2026, the stock is up more than 210%, including a nearly 30% rally in the past week that has pushed shares toward the $300 threshold. Wall Street consensus projects roughly 550% revenue growth for 2026 and 225% growth in 2027.
“We continue to see unprecedented demand across the market,” Chief Executive Officer Arkady Volozh said following the first-quarter results. “Compute and cloud needs are vastly exceeding capacity as more industries embrace AI and companies move beyond experimentation to real-world applications. We are seeing this demand firsthand and are capturing it with our full-stack AI-native cloud.”
For investors, Nasdaq-100 inclusion marks a pivotal milestone for Nebius, elevating it from a high-growth niche play to a core U.S. tech holding. With structural supply constraints in AI compute set to persist for years, and a backlog of multibillion-dollar contracts underpinning revenue visibility, analysts see room for further gains even after the stock’s historic run.
