Why Nebius Stock Skyrocketed Today

Nebius Group shares surged 34.14% after reporting impressive growth metrics driven by exponential demand for AI computing capacity. The cloud computing provider narrowed its adjusted net loss to $33 million from $92 million year-over-year and generated $236 million in EBITDA, up from a $21 million loss previously. The rally was also fueled by short-sellers covering positions.