Why Is Nebius Stock Surging On Monday?

Nebius Group N.V. (NASDAQ:NBIS) stock jumped on Monday after Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang praised the company during his keynote at the Computex conference in Taipei, Taiwan.

The Nasdaq is down 0.11% while the S&P 500 has shed 0.08%.

"We worked with Nebius, and they are growing incredibly fast," said Huang onstage. His presentation featured a slide displaying the Nvidia and Nebius logos separated by a heart symbol.

High-Profile Validation and Clients

The keynote slide showcased Nebius' specialized cloud offerings. Huang emphasized the quality of the company’s ecosystem, noting that "each one of these clouds has incredible customers," citing companies such as Cursor, Revolut and Shopify among its users.

This corporate endorsement supplements a multiyear, $17 billion revenue agreement with Microsoft Corp. (NASDAQ:MSFT) signed in September to supply crucial computing capacity.

Institutional Backing Amplifies Momentum

The Computex spotlight follows significant institutional interest from AI industry insiders. In a recent Schedule 13G filing with the Securities and Exchange Commission (SEC), hedge fund Situational Awareness LP—managed by former OpenAI researcher Leopold Aschenbrenner—disclosed a 5.6% passive stake in Nebius, reporting a holding of 12,410,060 Class A ordinary shares.

Short Squeeze Dynamics In Play

Data from the latest reporting period shows short interest in Nebius increased from 43.14 million to 45.10 million shares, placing 21.1% of the public float short. Given the recent average daily volume of 19.60 million shares, short sellers face a days-to-cover metric of 2.3 days, accelerating upward price action as positions face pressure.

Critical Levels To Watch For NBIS Stock

From a trend perspective, NBIS is stretched but still firmly in control: it's trading 31.9% above its 20-day SMA ($198.76) and 132.8% above its 200-day SMA ($112.59). The 20-day SMA is above the 50-day SMA and the 50-day SMA is above the 200-day SMA.

• Key Resistance: $258.01 — a fresh round-number/price-discovery area as the stock pushes to new highs above the prior 52-week peak
• Key Support: $233.73 — the prior 52-week high, a common breakout retest level if momentum cools

NBIS Stock Price Activity: Nebius Group shares were up 11.22% at $257.02 at the time of publication on Monday, according to Benzinga Pro data.

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