Nebius shares surge on AI cloud demand, analyst upgrades

Shares of Nebius, a Russian cloud computing and AI infrastructure provider, surged on Tuesday following a series of analyst upgrades and positive commentary on demand for artificial intelligence services.

The company’s stock rose more than 15% in early trading, extending gains after several brokerages raised price targets and maintained buy ratings. Analysts at VTB Capital and Sberbank CIB cited strong demand for Nebius’s AI-optimized cloud services, particularly in data center and high-performance computing segments.

Nebius, which operates primarily in Russia and select international markets, has positioned itself as a key player in the country’s push to develop domestic AI capabilities amid Western sanctions. The company’s infrastructure supports large-scale AI model training and deployment, a segment experiencing rapid growth globally.

Brokerage upgrades followed reports of increased enterprise adoption of Nebius’s services, including partnerships with Russian tech firms and government agencies. Analysts at Sberbank CIB raised their price target to 5,200 Russian rubles from 4,800 rubles, while VTB Capital maintained a target of 5,500 rubles, citing improved visibility on revenue growth.

The surge in Nebius shares reflects broader investor interest in AI-related infrastructure stocks, though the company’s exposure to the Russian market introduces geopolitical and regulatory risks. Trading volumes remained elevated, with over 1.2 million shares changing hands by midday in Moscow.

Nebius did not immediately respond to requests for comment.