Nebius (NBIS) Soars 12.6% as New AI Factory Gets Approval

Nebius Group NV (NASDAQ:NBIS) is one of the 10 Stocks Dominating Today’s Market Action.

Nebius Group snapped a four-day losing streak on Wednesday, jumping 12.65 percent to finish at $97.78 apiece, as investors loaded portfolios after securing the approval of a local government in Missouri for the development of a 1.2 GW AI factory.

In a statement on Tuesday, Nebius Group NV (NASDAQ:NBIS) said that the Independence City government has officially approved the Chapter 100 industrial development incentive plan for the AI campus, paving the way for the official construction of the project.

data center

Data center server racks. Photo by Brett Sayles on Pexels

The Independence City AI factory will sit on a 400-acre land and feature multiple buildings, a closed-loop cooling system that keeps water consumption comparable to a restaurant or office building, as well as noise-reduction technology.

Upon full operations, the project is expected to generate 1,200 skilled construction jobs, mostly among local building trades, with around 130 permanent high-technology positions.

Under the agreement, Nebius Group NV (NASDAQ:NBIS) would make Payments in Lieu of Taxes (PILOT) amounting to $650 million to the city over a 20-year period.

“Independence will be our largest AI factory in the United States to date, and we are fully committed to making it a project the city is proud of,” Nebius Group NV (NASDAQ:NBIS) CEO Arkady Volozh said. “This is our first project of this scale, but not the last.”

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