Why Did Nebius Stock Jump 20% in June?

Nebius Group (NBIS) jumped nearly 20% in June as the AI infrastructure provider unveiled a massive capacity expansion and a new data center deal. The company raised its power capacity guidance from 1 GW to over 4 GW and announced a Pennsylvania AI factory securing 1.2 GW, alongside a partnership with Bloom Energy.

Revenue growth accelerated sharply, climbing from $105 million in Q2 2025 to a $1.25 billion annual run rate. Management projects revenue exceeding $3 billion in 2026, reflecting aggressive scaling in the AI cloud infrastructure space.

The rally proved short-lived. NBIS crashed by a similar magnitude in early July, underscoring the volatility characteristic of high-growth AI plays. The stock faces pressure from competitors including CoreWeave, which competes directly in the AI infrastructure market. The company's lofty valuation amplifies downside risk when sentiment shifts.