Nebius Surges 13% on Eigen Deal, Meta Contract

Nebius Group (NBIS) jumped 13.24% on May 4, 2026, closing around $155 despite a broad market sell-off. Three catalysts drove the move: the $643 million acquisition of Eigen AI, a Goldman Sachs price target upgrade following a Meta infrastructure contract, and 2025 annual recurring revenue exceeding internal guidance. The company holds contracted backlogs approaching $27 billion with Meta and $19.4 billion with Microsoft, backed by a $2 billion Nvidia equity investment. A $4.34 billion convertible debt raise funds 2026 capex, while a new 310-megawatt AI data centre in Finland signals continued European expansion. Q1 2026 results are due May 13.