Nebius Group N.V. (NASDAQ:NBIS) stock jumped to 9% Thursday after BNP Paribas upgraded the stock to Outperform from Neutral and raised its price target to $399 from $260.
The move also followed reports that Nebius plans another GPU cloud price increase, highlighting continued pricing power amid tight AI computing supply.
• Nebius Group shares are powering higher. Why are NBIS shares rallying?
Nebius Outpaces Cloud Infrastructure Rivals
Nebius shares have gained more than 122% over the past 12 months, compared with a 32% decline for CoreWeave, Inc. (NASDAQ:CRWV) and a 9% gain for IREN Ltd. (NASDAQ:IREN).
The company has benefited from aggressive capacity expansion, its strategic alliance with NVIDIA Corp. (NASDAQ:NVDA) and stronger pricing amid an industry-wide GPU shortage.
NVIDIA previously invested $2 billion in Nebius to support its hyperscale AI cloud expansion.
Nebius Reportedly Plans 20% GPU Price Increase
Nebius reportedly plans to raise GPU cloud prices by roughly 20% starting Oct. 1 across several NVIDIA GPU models, including the H100, H200, B200 and B300.
The H100 rate is expected to increase to $4.50 from $3.85, while the H200 rate could rise to $5.40 from $4.50.
The proposed increases point to continued demand for high-end AI computing capacity and Nebius’ ability to charge more for GPU cloud services.
Analysts Offer Diverging Views
Nebius carries a Buy consensus rating with an average price target of $259.15.
Rothschild & Co initiated coverage with a Sell rating and an $84 price forecast on Sept. 21, while Truist Securities initiated coverage with Buy and a $355 forecast on Sept. 9.
Nebius Maintains Strong Technical Trend
Nebius remains above all its major moving averages, including the 20-day SMA of $220.95, 50-day SMA of $214.22, 100-day SMA of $219.56 and 200-day SMA of $163.41.
The 20-day average remains above the 50-day, while the 50-day stays above the 200-day, maintaining the longer-term upward trend.
Nebius Carries Significant ETF Exposure
Nebius represents 50.91% of the Leverage Shares 2X Long NBIS Daily ETF (NASDAQ:NBIG).
Significant inflows or outflows from the fund can translate into buying or selling of Nebius shares.
NBIS Price Action
Nebius Group shares were up 9.21% at $247.49 at the time of publication on Thursday, according to Benzinga Pro data.
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