Nebius Group stock jumped 9.5% in premarket trading on Wednesday after the AI cloud infrastructure company dropped its second-quarter 2026 results before the U.S. market open.
The stock moved from a prior close of $193.23 to $211.64 in premarket, well ahead of the broader market. The Nasdaq gained just 0.5%, while the S&P 500 was up 0.2% and the Dow Jones barely moved.
Wall Street had been expecting Q2 revenue in the range of $576 million to $583 million. That would represent year-over-year growth of more than 400%.
🚨 $NBIS REPORTS EARNINGS TODAY
Wall Street is expecting:
– Revenue: $570M–$585M
– Adjusted EPS: -$0.70 to -$0.72But their expansion is what really matters:$NBIS is targeting $3B–$3.4B in FY2026 revenue and a $7B–$9B annualized revenue run-rate by December.
The company is… pic.twitter.com/AabvDCuSdO
— DME Investor (@dmeinvestor) August 12, 2026
Analysts had also pencilled in a continued adjusted net loss, as Nebius keeps pouring capital into building out its infrastructure at pace.
The earnings release was seen as the most closely watched in Nebius’s short public history. Investors had been positioning ahead of it for days.
The day before results, Goldman Sachs analyst Alexander Duval published a bullish pre-earnings note that gave Nebius the highest price target on Wall Street.
Duval pointed to tight GPU supply conditions, fully booked first-quarter capacity, and Nebius’s asset-light cloud model as key competitive advantages.
That note helped build conviction going into Wednesday’s print and strengthened investor confidence around demand for AI computing infrastructure.
The timing was deliberate. With a report this closely followed, a street-high target from a major bank the day before carries weight.
CoreWeave’s Q2 2026 results, released after the close on August 11, sent a positive signal across neocloud stocks. Nebius caught some of that tailwind.
Separate reports also indicated Nvidia is directing a roughly $500 billion infrastructure funding initiative toward AI cloud specialists, with Nebius prominently named on that list.
That added further fuel to the bullish case heading into Wednesday’s session.
Nebius’s short interest also played a role. With roughly 24% of the free float held short, bearish positions were unwound quickly as the stock moved higher, amplifying the gains.
The company holds a five-year, $27 billion agreement with Meta and has a $2 billion Nvidia-backed investment. Both reinforce expectations that its contracted revenue pipeline is substantial.
Nebius outperformed the neocloud sector broadly on the day, with the confluence of earnings, a street-high Goldman target, CoreWeave read-through, and Nvidia ecosystem backing pushing the stock sharply higher in premarket to $211.64.
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