On July 31, NEBIUS rose 7.91% in pre-market trading, trading at approximately $201.50/share, with turnover of $27.08 million. The stock continued its strong momentum after surging over 30% in the prior trading session.
On the news front, Microsoft's latest earnings report revealed Azure and other cloud services revenue grew 43% year-over-year, far exceeding market expectations, with annual Azure revenue surpassing the $100 billion milestone for the first time. This data validated sustained global AI infrastructure demand, lifting market sentiment across the cloud computing sector and driving capital inflows into Neocloud service providers including NEBIUS.
Additionally, NVIDIA previously disclosed a 9.3% ownership stake in NEBIUS, totaling approximately 22.26 million shares. Baird initiated coverage with an Outperform rating, with analysts setting an average price target of $270.80, representing significant upside from current levels. These multiple positive catalysts continue to accumulate, providing strong upward momentum for the stock ahead of its upcoming earnings report on August 12.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)