Nebius Group (NBIS) Jumps 8.7% on AI Buying Spree

We recently published 10 Big Names With Whopping Gains; 6 Jump All-Time Highs. Nebius Group NV (NASDAQ:NBIS) is one of the best performers on Thursday.

Nebius Group grew for a second day on Thursday, jumping 8.72 percent to close at $132.64 apiece as investors maintained their buying spree in AI stocks amid a surge of dealmaking activities across the sector.

For its part, Nebius Group NV (NASDAQ:NBIS) recently clinched an $18 billion cloud computing deal with technology giant Microsoft Corp., strengthening its position in the rapidly growing demand from AI firms.

Nebius Group (NBIS) Jumps 8.7% on AI Buying Spree

According to the company, the capacity will be delivered from its new data center in Vineland, New Jersey, with capital expenditures targeted to come from a combination of cash flow from the deal and the issuance of debt.

Last month, Nebius Group NV (NASDAQ:NBIS) successfully raised $1.15 billion in fresh funds through the issuance of convertible senior notes and its underwriters’ exercise of their option to purchase over 1.6 million shares for a total of $150 million.

Additionally, it may tap other financing options to enable significantly faster growth than originally planned.

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