Nebius shares rally up to 8% on AI cloud growth expectations

Nebius Group shares gained up to 8% following a stock upgrade by BNP Paribas, which also raised its price target for the company. The rally reflects investor optimism around the company's AI cloud business expansion and planned price increases in that segment.

The upgrade comes despite Nebius facing elevated valuation and continued operational losses. Analysts attribute the positive sentiment to growth prospects in the AI cloud market, which is expected to drive future revenue.