Why Did Nebius Stock Jump Again This Week?

Artificial intelligence (AI) compute demand seems to be accelerating. That has investors jumping into any company participating in the boom. Nebius Group (NASDAQ: NBIS) certainly qualifies for that, as a provider of cloud computing infrastructure.

AI leader Nvidia has announced a series of deals supporting investment in that infrastructure. That continued this week, helping to push the sector higher. Nebius also has a deal with Nvidia, and that's the tailwind that pushed Nebius stock to a new all-time high this week. The stock dropped some from that peak, but was still about 16% higher for the week as of midday Friday, according to data provided by S&P Global Market Intelligence.

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There was a good reason why Nvidia decided to invest $2 billion in a Nebius partnership in March. The cloud infrastructure Nebius is adding is needed by Nvidia. Nvidia summed up the relationship this way:

To help meet rapidly growing global demand for high-performance compute, the partnership deepens Nebius and Nvidia's relationship across the full AI technology stack, from AI factory architecture to production software, enabling Nebius to accelerate the buildout of its industry-leading, full-stack AI cloud platform.

Nvidia has built similar partnerships with its peers, and investors are pushing many of those stocks higher amid demand. But it has also taken capital from Nebius to build compute capacity, driving its expenses and net losses higher.

With shares near all-time highs and valuation based on future demand, Nebius will need to convince investors it can realize profitable growth soon. That's why next week's earnings report, due on Wednesday, May 13, will be critical in determining the next move for Nebius stock.

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Howard Smith has positions in Nvidia. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.

Why Did Nebius Stock Jump Again This Week? was originally published by The Motley Fool