What Is NBIS Stock?

NBIS is the Nasdaq ticker for Nebius Group N.V., an Amsterdam-headquartered technology company focused on AI infrastructure and cloud computing. NBIS represents the company's Class A ordinary shares.

Nebius's core business is its AI cloud platform, which provides computing, storage, networking, and software infrastructure for companies building, training, and running AI models and applications.

Nebius operates across the AI lifecycle, from model training and tuning to production deployment and inference.

Key Takeaways

• NBIS is the Nasdaq ticker for Nebius Group N.V., an Amsterdam-headquartered AI infrastructure company, and represents its Class A ordinary shares.
• Nebius sells compute, not software. Nebius AI Cloud rents GPU computing, storage and networking capacity to companies training, deploying and running AI models. Avride in autonomous driving and TripleTen in technology education are also part of the group, which holds interests in ClickHouse and Toloka.
• Revenue is growing fast from a small base, but the business is not yet profitable. First-quarter 2026 revenue reached $399.0 million, up 684% year over year, alongside a $128.0 million loss from operations.
• Contracted revenue is not reported revenue. Agreements with Microsoft and Meta Platforms run to tens of billions of dollars, but revenue is recognized only as data center capacity is built and brought into service, which makes delivery the constraint rather than demand.
• NBIS can be bought through any brokerage with Nasdaq access, or on Backpack Securities, which supports 24/5 trading, stablecoin funding and onchain settlement on Solana.

What Does Nebius Do?

Nebius Group is a technology company focused primarily on AI infrastructure and cloud computing. Its core business, Nebius AI Cloud, provides GPU computing, storage, networking, and software infrastructure for companies building, training, deploying, and running AI models and applications.

The platform supports key stages of the AI lifecycle, including model training, fine-tuning, deployment, and inference.

Beyond its AI cloud business, Nebius Group also operates Avride, which develops autonomous driving technology, and TripleTen, a technology education platform. The group also holds interests in businesses including ClickHouse and Toloka.

How Does Nebius Make Money?

Nebius makes money by selling AI computing capacity to organizations that build and run artificial intelligence systems. Through Nebius AI Cloud, those organizations access GPU computing, storage, networking and inference capacity without building their own large-scale AI data centers.

Revenue comes from workloads such as:

• Training and fine-tuning AI models
• Running AI inference in production
• Deploying and operating AI applications at scale
• Storage, networking and related cloud services

First-quarter 2026 revenue reached $399.0 million, up 684% year over year. The company remains loss-making at the operating level, with a $128.0 million loss from operations for the quarter, as depreciation on newly built capacity scales faster than revenue.

A growing share of that revenue is contracted in advance. Nebius has agreed to supply Microsoft with GPU capacity worth at least $17.4 billion through 2031, and Meta Platforms with $12 billion of dedicated capacity, plus a further commitment that takes the Meta contract to approximately $27 billion.

Contracted revenue is not reported revenue. Customer prepayments sit on the balance sheet until capacity is delivered, and the Meta capacity is only scheduled to begin delivery in early 2027. Revenue is recognized as data center capacity is built and brought into service, which is why construction schedules determine the timing of results.

What Drives NBIS Stock

Data center delivery is the principal driver. Because revenue recognition depends on capacity coming online, construction timelines, power availability and local planning approvals sit directly on the path between signed contracts and reported results. News affecting any of those inputs carries more weight for NBIS than comparable news would for a company that recognizes revenue on sale. Planning decisions relating to individual sites have moved the stock materially in single sessions.

Quarterly results function as the scheduled catalyst. Attention centers on whether contracted capacity is converting into recognized revenue on the expected timetable, and on any revision to guidance.

Positioning amplifies both. NBIS carries elevated short interest, at roughly 24% of float, which tends to enlarge moves in both directions and can extend rebounds as well as declines.

Wider conditions also matter. As an AI infrastructure business funding a capital-intensive build-out, Nebius is sensitive to interest rate expectations and to sentiment around AI capital expenditure across the technology sector.

Where to Buy NBIS Stock

NBIS trades on Nasdaq, so any brokerage with access to US-listed equities can execute an order, subject to the investor's jurisdiction.

NBIS can also be bought on Backpack Securities, a regulated brokerage that provides real equity ownership through established US securities infrastructure. That route differs from a conventional brokerage account in several ways:

• TNBIS trades 24 hours a day, five days a week, extending well beyond the Nasdaq session and into Asian and European hours. 
• Orders can be funded in stablecoins or fiat, without moving value into a separate brokerage relationship first.
• USD balances earn an uncapped variable APY, currently 3.61% and up to 6.61% at VIP tiers, across the full balance and usable as trading collateral while earning. 
• Equities and digital assets sit in one account, so the NBIS position appears alongside the rest of the portfolio.
• An NBIS position can be taken onchain as a tokenized equity on Solana, representing direct ownership of the underlying security and converting one-for-one back into conventional shares. 

Ownership is the same in either form. Backpack Securities holds real securities through regulated US infrastructure, which distinguishes the position from contracts for difference and synthetic tokens, none of which confer ownership, dividends or voting rights. Eligibility varies by jurisdiction.