Another Billion-Dollar Deal Boosts Popular AI Stock

AI giant Nebius Group (NASDAQ:NBIS) is 5.8% higher to trade at $103.53 this morning, brushing off a larger-than-expected net income loss and revenue miss for the third quarter. Behind today's pop is Nebius' deal with Meta Platforms (META) to deliver AI infrastructure over five years, worth around $3 billion. This comes just after its $19 billion deal with Microsoft (MSFT) in September.

NBIS has been pulling back slightly from its Oct. 10 record high of $141.10, but remains supported by the $100 floor and ascending 50-day moving average. In fact, the shares have surged 300% since January.

Short interest has backpedaled slightly, down 5.2% in the most recent reporting period. This accounts for a hefty 10.9% of the stock's total available float, or 22.54 million shares. At NBIS' average pace of trading, it would take short sellers just over one day to buy back their bearish bets.

The security also tends to outperform options traders' volatility expectations. This is per Nebius Group stock's Schaeffer's Volatility Scorecard (SVS) of 87 out of 100.