Nebius surges 18% after earnings blow past estimates, outperforming CoreWeave and Cloudflare

Nebius Group just reminded Wall Street that the AI infrastructure trade isn’t a two-horse race. The European cloud provider’s stock jumped 18% on May 13 after posting first-quarter revenue of $399 million, a figure that represents roughly an eightfold increase from the same period a year ago. The numbers behind the rally Nebius, trading on the Nasdaq under the ticker NBIS, operates large-scale GPU clusters designed specifically for AI computation. For context, the company is a spin-off from Yandex, the Russian search giant that restructured its international operations. Nebius emerged from that split as a standalone entity focused entirely on AI infrastructure. Adding fuel to the story: Nvidia disclosed a 9.3% ownership stake in Nebius in July, a vote of confidence from the company whose chips sit at the center of virtually every AI data center on the planet. How Nebius stacks up against CoreWeave and Cloudflare The AI cloud infrastructure sector has become one of the market’s most watched battlegrounds. CoreWeave, which trades under CRWV, is Nebius’s closest peer. Both companies are “neocloud” operators, a term describing newer entrants that build GPU-dense data centers purpose-bu...