New York, February 20, 2026, 11:42 a.m. EST — Regular session
- Nebius shares fall about 5% in late-morning trade after a two-day rally
- Compass Point kicked off coverage with a Buy rating and a $150 price target
- AI infrastructure peer CoreWeave slides, keeping the “neocloud” trade choppy
Nebius Group N.V. shares fell 4.7% to $102.50 in late-morning Nasdaq trade on Friday, trimming a roughly 10% gain over the prior two sessions.
The move matters because Nebius sits in a small, volatile pocket of the market that sells access to AI computing power — the kind built on GPUs, or graphics processing units used to train and run AI models. Flows can turn quickly when a fresh research note hits a thinly covered name.
It also lands in the middle of a wider debate on “neoclouds” — smaller cloud operators racing to add data-center capacity fast enough to meet demand, without the balance sheets of the biggest tech platforms. Investors are still trying to decide what that growth is worth when it is financed with heavy spending.
Compass Point this week initiated coverage with a Buy rating and a $150 price target, describing Nebius as a “full-stack AI infrastructure company” selling GPU compute through an AI cloud platform. (TipRanks)
NBIS jumped 5.7% on Thursday and 4.4% on Wednesday, with the shares briefly trading above $108 before Friday’s pullback. (Investing)
The broader AI infrastructure tape was mixed on Friday. CoreWeave slid about 9%, while Nvidia, the dominant supplier of AI chips, was modestly higher.
Nebius has been spending heavily to build out data centers and buy AI processors, and it counts Microsoft and Meta Platforms among customers, a Reuters report said. Founder and CEO Arkady Volozh has said demand would “outpace supply in 2026 and likely for the next several years.” (Reuters)
But the upside case comes with obvious traps. Capital spending — “capex,” in market shorthand — can punish shareholders if financing tightens, buildouts slip, or customer demand slows before new capacity is filled.
Near term, traders will look for follow-through: whether Friday is a one-day reset or the start of another leg lower, and whether more analyst coverage emerges after this week’s initiation. Nebius’ investor events page lists no upcoming investor conferences or calls. (Nebius)
Beyond Friday, attention turns to Nebius’ developer-event slate, including Nvidia’s GTC in San Jose on March 16–19 and KubeCon in Amsterdam on March 23–26, where the company says it will appear. Any contract, capacity or product update around those dates is the next clear catalyst for NBIS. (Nebius)
