Nebius Stock: Palantir Deal and October Price Hikes Test a 177% Rally
Published on 09/24/2026 at 06:31 | Editorial boerse-global.de
Nebius has spent the past two months converting a chronic shortage of computing power into hard commercial leverage. The European cloud infrastructure provider now finds itself at the center of a debate about how long the AI buildout can sustain the kind of growth that has lifted its shares 177% since the start of the year, with the stock last changing hands at EUR 203.90 and a market capitalization of EUR 53.12 billion.
The operational numbers behind that run are striking. In the second quarter of 2026, revenue multiplied by 454% year over year to USD 582.3 million, while the annualized run rate climbed to USD 3.0 billion. Management is guiding for full-year 2026 revenue of between USD 3.0 billion and USD 3.4 billion.
Palantir Partnership Opens the Sovereign AI Door
A strategic tie-up announced on September 8 marks Nebius's most deliberate move yet toward large institutional clients. Under the agreement with Palantir Technologies, Nebius becomes the preferred partner for sovereign AI infrastructure, with its compute and inference endpoints to be delivered inside Palantir's protected security boundaries. The arrangement gives Nebius a direct channel to customers whose data protection and sovereignty requirements are among the strictest in the market.
Management pressed that advantage on the conference circuit the same week. Speaking at the Goldman Sachs Communacopia + Technology Conference on September 8 and the Citi Global TMT Conference on September 9, company representatives said demand for AI infrastructure is running far ahead of available capacity — a gap they said gives Nebius visibility into growth stretching as far as 2028.
Should investors sell immediately? Or is it worth buying Nebius?
October Tariffs Climb Across the Board
Scarcity is also showing up in the price list. Nebius announced higher cloud rates roughly a week ago, a move the market greeted with an intraday gain of 7.5%. According to Reuters, usage-based pricing for selected Nvidia graphics processors rises between 17% and 21% from October 1. CPU-only instances become 25% more expensive, while memory offerings climb by about 41%.
The increases are not uniform. From the start of October, Nvidia H100 clusters cost 16.9% more at USD 4.50 per hour, while newer B300 systems carry a 21% higher hourly rate. That customers are willing to absorb these markups speaks to the pressure on developers and cloud providers to keep pace with the next generation of models.
A Trillion-Dollar Question With No Easy Answer
The scale of the spending behind all this is difficult to grasp. JPMorgan chief Jamie Dimon recently put hyperscaler outlays for the coming year at roughly USD 1 trillion. A Brookings study warns that a global expansion of this kind could consume around USD 10.3 trillion over the coming years, flagging the risk of painful overcapacity once the current wave of upfront investment subsides.
Skeptics are already positioning themselves. Star investor Michael Burry has added to an existing short position against Nebius, betting on falling prices. Analyst opinion is similarly split. Rothschild & Co. Redburn rates the stock a sell with a price target of just USD 84, while the broader market consensus still carries a moderate buy.
Nebius sits squarely in the middle of that divide. When cloud infrastructure is scarce, the company earns handsomely. Should the capital spending of its largest customers stall, equipment suppliers and data center operators are typically the first to feel it. Whether the shares can hold their current valuation depends less on index allocations than on the staying power of the customers writing the checks.
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Nebius Stock: New Analysis - 24 September
Fresh Nebius information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
