Nebius Group’s £1.7 Billion UK Expansion Fuels Bullish Case Despite the Pullback

Nebius Group announced a £1.7 billion ($2.3 billion) UK infrastructure expansion to build AI capacity through three new NVIDIA deployments reaching 65 megawatts by 2027. Despite the stock pulling back 22% from its 52-week high of $278.84 to $218, the company continues accelerating expansion with a $46 billion contracted backlog, including deals with Meta and Microsoft. Bank of America raised its price target to $280, citing strengthening compute demand.