Nebius Stock Jumps After Palantir Names It Preferred AI Partner

Nebius shares rose more than 10% to $250 on Sept. 8, continuing a recovery that began last week when the stock fell to $194.76. The session high was the stock’s strongest level since Aug. 18.

Palantir named Nebius its preferred sovereign AI infrastructure partner and will bring Nebius compute and inference endpoints inside Palantir’s enterprise perimeter. Under the agreement, Palantir will route compute and inference workloads to Nebius within Palantir-controlled environments, giving Palantir customers direct access to Nebius cloud and inference infrastructure.

Palantir Chief Executive Alex Karp commented, “Nebius’ compute infrastructure powers your ability to run your own AI models under conditions you control. Our ontology and their infrastructure will undergird the sovereignty our partners are demanding.”

Palantir joins other Nebius customers that include Microsoft, Meta Platforms, Cloudflare and Revolut.

Traders pushed NBIS higher from last week’s low to a session peak at $250. The stock’s rise mirrored gains at other neocloud companies, including CoreWeave and IREN. Market watchers noted the stock crossed its 50-day moving average and formed an inverted head-and-shoulders pattern. Technical analysis using Murrey Math shows a major pivot at $250 and identifies a potential target near $312 if resistance around $300 is cleared.

Nebius reported second-quarter revenue of $582 million, up 454% year over year, and six-month revenue of $981 million. Company management reported that capacity is sold out for the year and that it is positioned to sell 2027 capacity now. The company expects about $9 billion in customer prepayments.

Costs have risen with growth. Depreciation and amortization increased to about $259 million in the second quarter from $75 million a year earlier, roughly 44% of revenue. Capital spending in the period exceeded $5.7 billion.

Nebius has financed its buildout through a mix of borrowing, customer prepayments and equity sales. Through June the company sold 12.7 million shares, raising $2.8 billion, and it has roughly 13 million additional shares available to sell. Short interest in NBIS is about 20%.

The partnership expands Nebius’s commercial footprint. The company reports rapid revenue growth alongside heavy capital spending and share issuance.