Nebius Gains After Eigen AI Deal, Nasdaq-100 Entry

Nebius Group shares rose about 4% on Tuesday after the Amsterdam-based AI cloud infrastructure company completed its acquisition of Eigen AI on June 10 and confirmed it will join the Nasdaq-100 Index before markets open on June 22.

Nebius announced the Eigen AI transaction on May 1. The acquisition closed after the company obtained required regulatory approvals and satisfied customary closing conditions. Financial terms were not disclosed.

Eigen AI supplies inference and model optimization technologies. Nebius plans to integrate those technologies into its AI cloud platform to improve model deployment and serving efficiency for enterprise customers.

Nebius is scheduled to be added to the Nasdaq-100 as part of Nasdaq’s quarterly reconstitution. Inclusion in the index can lead to purchases by exchange-traded funds and mutual funds that track the benchmark.

Short interest in Nebius declined from 45.10 million shares to 44.30 million shares in the latest reporting period. About 20.73% of publicly traded shares remain sold short. Technical indicators show the stock trading roughly 20% above its 20-day moving average, more than 122% above its 200-day moving average, and near its 52-week high.

The company reported first-quarter 2026 revenue of $399 million, a 684% increase from the same quarter a year earlier. The AI Cloud segment generated $389.7 million, about 98% of total sales. Nebius reported a quarterly loss of $0.23 per share, narrower than analysts’ consensus of a $0.77-per-share loss. Citigroup raised its price target from $169 to $287 and maintained a Buy rating. Morgan Stanley raised its target from $126 to $144 and kept an Equal Weight rating. MarketBeat data shows nine Buy ratings and six Hold ratings, with a consensus price target of $203.25.

Nebius has expanded its infrastructure footprint with new data center deployments and partnerships, and it recently opened a physical AI laboratory for robotics startups in collaboration with Nvidia.