Nebius shares rose 6.7% to $98.50 in early Tuesday trading, adding to a 10% gain so far this year. In comparison, CoreWeave, the largest independent neocloud operator, is down 3.4% year-to-date, and IREN has dropped 16%. This difference shows that investors are increasingly confident in Nebius’s ability to deliver results and secure deals as the AI infrastructure market grows.

The main reason for the stock’s jump was Nebius’s announcement of a new data center in Finland. The facility will have up to 310 megawatts of capacity (megawatts measure how much electrical power the data center can use at once), making it one of the largest AI infrastructure projects in Europe. It is valued at over $10 billion, although Nebius did not share the exact investment amount. With this move, the company aims to meet rising European demand for AI computing power. Nebius is targeting customers such as AI-focused companies, large businesses, and research groups.

The Finland announcement builds on the Finland project, which follows several major developments for Nebius. Recently, the company’s business and financial position have improved thanks to a $2 billion investment from Nvidia, which also connects Nebius to the leading AI chip supplier. In addition, a cloud computing deal with Meta Platforms could be worth up to $27 billion, giving Nebius a steady source of revenue that most competitors do not have yet. been characterized by elevated volatility, driven by heavy participation from retail traders and sharp sentiment swings around AI infrastructure themes. Within that turbulent peer group, Nebius has emerged as the standout performer. However, the stock remains well below its prior highs above $130, leaving traders to weigh whether the current momentum represents a sustainable re-rating (a lasting shift in how the stock is valued in the market) or a rally still searching for its fundamental ceiling.