Why Nebius Group Stock Just Gained 26%

Nebius Group N.V. (NASDAQ: NBIS) stock was up 26.9% as of 3:05 p.m. ET Thursday. The S&P 500 and the Nasdaq Composite were up 1.6% and 2.7%, respectively.Shares of the AI neocloud are rising along with much of the tech market, recovering from yesterday's sell-off. Quarterly results from Microsoft and Meta Platforms that pointed to still-strong demand for data center capacity have allayed fears that spending might start drying up.Microsoft reported earnings after Wednesday's close, saying it signed more than $130 billion in new data center leases during the quarter, a jump of over two-thirds from the prior quarter. CEO Satya Nadella said the company is on pace to roughly double its data center capacity within two years, with 31 new data centers coming online in the quarter alone. Sales for Azure, its cloud business, grew 43% year over year. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool