Nvidia is doubling down on AI data center plays with a fresh spotlight on Nebius, a lesser-known but fast-growing player in the cloud infrastructure race.
Nebius spun off from Yandex and raised $700 million in a private placement that included Nvidia. Now it’s building a neocloud platform using Nvidia GPUs across data centers in Europe and the U.S. Its rivals? CoreWeave and Oracle, but Nebius is carving out serious momentum.
Cloud giants Microsoft, Alphabet, and Amazon are set to spend $260 billion this year on AI data centers and chip access. Meta just dropped $14.3 billion on Scale AI and is aggressively hiring top AI researchers. All this caps massive demand for the infrastructure Nebius offers. 
Nebius is already hitting $249 million in annual recurring revenue (ARR) with 684% growth YoY. Management projects ARR to hit between $750 million and $1 billion by year-end. That aligns with Nvidia’s push of the new Blackwell GPU architecture.
Goldman Sachs analyst Alexander Duval set a $68 price target on Nebius stock, a 28% upside from July 16 prices. Even more bullish, Arete Research’s Andrew Beale sees a $84 price, implying Nebius trades at a nearly 60% discount.
Nebius’ 139% share jump suggests hype, but its fundamentals back solid growth. CoreWeave’s recent success and Oracle’s AI infrastructure wins prove there’s room for multiple cloud infrastructure winners. Nebius remains small but is shaking off macro-driven momentum for a real valuation reset.
That makes Nebius a bargain growth pick for investors targeting AI cloud infrastructure now.
This race isn’t just between Nvidia and CoreWeave anymore. Nebius is joining the AI data center spotlight with serious firepower and market value upside.
