Nebius Stock Tripled in 2025. Is There More Growth Ahead in 2026?

Core Insights - Nebius Group (NASDAQ: NBIS) experienced significant growth in 2025, particularly in its core AI cloud infrastructure business, leading to a stock surge of 202.2% for the year [1]. - The company reported Q2 sales of $105 million but raised its annual revenue run rate guidance to up to $1.1 billion by the end of 2025, indicating a potential tripling of revenue in a short time [3]. - Major agreements with hyperscalers, including a $19.4 billion deal with Microsoft and a $3 billion deal with Meta Platforms, signal strong demand for Nebius' AI infrastructure [4][5]. Business Expansion - Nebius is not only focused on AI cloud infrastructure but is also expanding into three related business segments: Toloka for AI data needs, educational technology, and Avride, which manufactures autonomous vehicles and delivery robots [6]. - The growth potential from these additional segments provides investors with optionality, particularly with Avride showing significant upside potential [7]. - Despite the promising outlook, the market has already priced in substantial growth for Nebius, necessitating successful execution to justify its current valuation [8].