NBIS Stock Nears New High. Nebius Rises Over 5% Premarket, Nearing the $300 Mark Again

TradingKey - Nebius shares continue to rise over 5% but have yet to break through the $300 mark, warning of pullback risks.

On June 18, Eastern Time, AI cloud company Nebius ( NBIS) continued to rise over 5% in pre-market trading, with its share price climbing to $295, close to its all-time high of $297. Yesterday, Nebius shares surged about 6%, leaving them just a step away from the $300 milestone. However, will Nebius's stock price continue to break through or will it top out and fall back?

Nebius stock chart, Source: TradingView

On June 11, 2026, the Nasdaq Stock Market ( NDAQ) announced after-hours that it would add Nebius to the Nasdaq 100 Index, scheduled to officially take effect before the market opens next Monday (June 22, 2026). Following the announcement, Nebius shares surged about 13% that day and subsequently continued to rise, recovering losses since June 2 and reaching a new high yesterday.

Since the beginning of this year, Nebius's stock price has continued to rise, with a year-to-date gain of over 220%. This strong, short squeeze-like rally is driven not only by its inclusion in the Nasdaq 100 Index, but also by Eigen AI and Nvidia ( NVDA ). On May 1 of this year, Nebius first announced its $643 million wholly-owned acquisition of AI company Eigen AI, meaning Nebius is no longer just a computing power infrastructure provider, but has upgraded to a hard-core player with "full-stack AI cloud architecture" capabilities, directly addressing the enterprise market's rigid demand for low-latency, highly energy-efficient model deployment.

Compared to the two drivers mentioned above, support from AI giant Nvidia is even more critical. In March this year, Nvidia directly invested $2 billion in Nebius to help it deploy over 5 gigawatts (GW) of Nvidia supercomputing system capacity by the end of 2030. Furthermore, Nvidia supported Nebius in becoming one of the first cloud providers globally to introduce the next-generation NVIDIA Vera Rubin NVL72 accelerated computing platform, opening up partner design data and rigorous design review processes, and providing early samples for debugging.

Currently, Nebius has broken through the target prices expected by Wall Street institutions. In early June, institutions including BofA Securities and Citizens JMP raised their target prices to $270-$280. Additionally, NBIS's price-to-earnings (P/E) ratio has surpassed 100 times, meaning the market's high growth expectations have largely been priced in, suggesting its stock price could pull back at any time. However, the official implementation of its Nasdaq index inclusion could push the stock past $300, but whether it can stabilize and continue its upward trajectory after the breakout remains highly uncertain.