Nebius Group (NBIS) Hits Fresh High on Swing to Profits

Nebius Group NV (NASDAQ:NBIS) is one of the 10 Stocks With Easy Double-Digit Gains.

Nebius Group bounced back on Wednesday to hit a new all-time high, as investors cheered its stellar first-quarter earnings, with the company swinging to profitability and revenues surging more than sevenfold.

In intra-day trading, the stock soared to its highest price of $217.34 before paring gains to end the session just up by 15.72 percent at $207.27 apiece.

For illustration purposes. Photo by Brett Sayles on Pexels

During its earnings call, Nebius Group NV (NASDAQ:NBIS) said that it swung to a net income of $621.2 million from a $104.3 million net loss in the same period last year.

Revenues soared by 684 percent to $399 million from $50.9 million year-on-year.

“We continue to see unprecedented demand across the market. Compute and cloud needs are vastly exceeding capacity as more industries embrace AI and companies move beyond experimentation to real-world applications. We are seeing this demand first-hand, and are capturing it with our full-stack AI-native cloud,” Nebius Group NV (NASDAQ:NBIS) CEO Arkady Volozh said, adding that such achievements are setting the company up for continued success.

“The future is very bright, and we have a long and exciting journey ahead,” he noted.

During the period, it can be recalled that Nebius Group NV (NASDAQ:NBIS) clinched two major billion-dollar deals—a $27 billion dedicated capacity for Meta Platforms, and a $2 billion investment and partnership with Nvidia Corp.

While we acknowledge the risk and potential of NBIS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NBIS and that has 10,000% upside potential, check out our report about the cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

Disclosure: None. Follow Insider Monkey on Google News.