Nebius shares jump 27% after $1 billion AI deal

Shares of Nebius Group, a Netherlands-based provider of AI computing infrastructure, surged on Thursday, July 30, 2026, recovering from a sharp multi-day selloff as a major new customer deal and strong industry earnings revived investor confidence in the sector. The stock closed up 26.9% at $193.75, following a rally that accelerated once regular trading began.

The rally was fueled by two primary catalysts. First, the company announced it had signed a multi-year agreement worth more than $1 billion to sell computing power to Reflection AI, a deal set to run through 2029. Second, quarterly results from Microsoft, released on Wednesday, July 29, showed robust and accelerating growth in cloud services, allaying fears that spending on AI infrastructure might be slowing. Microsoft reported that revenue from its Azure cloud business grew 43% year-over-year, with the company signing over $130 billion in new data center leases during the quarter.

This positive industry sentiment provided a stark contrast to the trading action earlier in the week. On Wednesday, Nebius stock had fallen approximately 10%, closing near $148, as investor focus shifted to the company's high capital...