Jim Cramer Highlights That Nebius Keeps Getting Contracts

Nebius Group N.V. (NASDAQ:NBIS) is one of the stocks Jim Cramer recently commented on. When a caller mentioned that they have been looking at the stock, Cramer said:

“Okay, Nebius is a huge, look, it’s Nebius, IREN, and CoreWeave. Those are the three. They’re going to keep getting contracts. If you’re in on the day when the stock is down, and they get a contract, you’re going to make money. What can I say?”

Stock market data. Photo by Alesia Kozik on Pexels

Nebius Group N.V. (NASDAQ:NBIS) develops full-stack AI infrastructure, including GPU clusters and cloud platforms, and provides tools and services for AI development. Cramer mentioned the stock during the September 24 episode and remarked:

“But then there’s a company like Nebius… which has some good contacts and a relationship with Microsoft, but it loses a lot of money, yet its stock’s rallied more than 308% for the year. Ow.”

Moreover, during the September 9 episode, Cramer highlighted his visit to Nebius Group N.V.’s (NASDAQ:NBIS) booth during NVIDIA’s GTC conference. He commented:

“Sometimes, though, you have a winner right in front of your face and you don’t realize it. When I was at NVIDIA’s big GTC conference… I was checking out the booth of all those companies that were working with Nvidia installing product into the data centers… At the end of the hall in what seemed to me to be a pretty empty booth… this company, Nebius, is a data center builder like CoreWeave. I felt bad for them, like no one was paying any attention to them, so I asked what they did. I sauntered it over there. They filled me in. They were going to be a part of the power solution. I thanked them. Never really thought about it again until yesterday when the company won a $17 billion contract to build a data center for Microsoft in Vineland, New Jersey… Sure enough, Nebius, which had been creeping up, vaulted from $64 to nearly $96 today in a colossal move. Nebius, it turns out, used to be a part of Yandex, a controversial Russian story. Spun out from Yandex, Nebius is controversial no more. It’s just electric, literally.”

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Disclosure: None. This article is originally published at Insider Monkey.