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Investing.com - Goldman Sachs initiated coverage on Nebius Group (NASDAQ:NBIS) with a Buy rating and a price target of $68.00, implying approximately 45% upside from Thursday’s closing price of $46.40. The company, currently valued at $10.5 billion, has demonstrated remarkable momentum with a 134% return over the past year.
The investment bank identified Nebius as a leading player in the AI Neocloud market, which specializes in AI GPU infrastructure rental services that cater to the rapidly expanding Generative AI sector.
Goldman Sachs highlighted Nebius’s competitive advantages, including its full-stack software offering, cost benefits, and demonstrated expertise at scale compared to other GPU rental options in the market.
The firm noted that despite recent positive movement in NBIS stock price, the current valuation of Nebius’s AI infrastructure business remains inexpensive compared to industry peers.
Goldman Sachs expects a "supportive catalyst path" over the next 12 months to drive further outperformance for the stock, contributing to its positive risk-reward assessment.
In other recent news, Nebius Group has seen several developments that could interest investors. DA Davidson has raised its price target for Nebius Group to $55 from $50, while maintaining a Buy rating, citing recent changes in the competitive landscape. Additionally, Nebius has launched the first NVIDIA (NASDAQ:NVDA) GB200 Grace Blackwell Superchip capacity in Europe, expanding its AI infrastructure offerings. This move marks a significant step in integrating NVIDIA’s accelerated computing platform into Nebius’s AI Cloud. Furthermore, Nebius has partnered with Saturn Cloud to provide a turnkey AI/ML infrastructure solution, leveraging NVIDIA Hopper GPUs. This partnership aims to offer cost-effective AI capabilities to enterprises and individual users. Meanwhile, Sono Group has announced an extension to the maturity dates for its convertible debentures in an agreement with Yorkville. The company has also extended the termination dates of related agreements to August 1, 2025, subject to certain conditions. These recent developments highlight ongoing strategic moves by both Nebius Group and Sono Group.
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