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Nebius Group (NASDAQ: NBIS) saw a dramatic stock surge of 50.6% in June 2023, supplementing a 62% increase from May, driven by renewed optimism in the AI sector.
Analyst Andrew Beale from Arete Research issued a “Buy” rating on June 5, with a target price of $84, favoring Nebius over CoreWeave (NASDAQ: CRWV), which received a “Neutral” rating. Nebius boasts $1.44 billion in net cash, contrasting with CoreWeave’s $6.2 billion net debt, despite having higher revenue multiples.
Nebius, backed by Nvidia (NASDAQ: NVDA), differentiates itself by building its own data center infrastructure, as opposed to CoreWeave’s outsourcing approach. The future growth prospects for both companies hinge on Nvidia’s role in the AI industry.
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