Nvidia-Backed Nebius Stock Rallies On Plans For New 300MW Data Center In New Jersey: Retail’s Elated

Nebius Group’s (NBIS) shares climbed early Wednesday after the Dutch artificial intelligence infrastructure company announced plans for a new data center in New Jersey.

Nebius was spun off from the publicly traded Yandex Group, the Dutch holding company of Russian Internet giant Yandex. It began trading on the Nasdaq on Oct. 21. 

The company said the new data center commissioned in New Jersey will have a capacity of up to 300 megawatts (MW) and will mark a major upgrade to its U.S. cloud computing capacity.

The proposed facility will be developed in phases, with the first capacity expected to be completed as early as the summer of 2025. 

Nebius said the new data center will help it meet its previous guidance of 100 MW of installed capacity by the end of 2025, with the potential to accelerate beyond that if necessary to meet demand.

Arkady Volozh, Nebius founder and CEO, said, “Our first major data center in the US clearly advances our strategic goal of expanding our footprint in the American market as we continue building Nebius into a leading global AI infrastructure provider.”

According to the executive, the site can host dedicated large-scale instances. 

The company also announced incremental capacity additions at its existing colocation deployment in Kansas City and a new location in Iceland. 

With the tripling of capacity at Nebius’s first data center in Finland and potential deployments at new sites currently in the pipeline, the company said it is well-positioned to ramp up installed capacity in the U.S. and Europe during 2025.

Nvidia Corp.’s (NVDA) latest 13F filings showed the AI stalwart owned 1.191 million shares of Nebius.

A bullish watcher viewed the news as very “positive.”

Another user warned short-sellers regarding a wipeout of their wealth

Nebius traded up 2.36% at $30.31 on Wednesday morning. The stock is up about 7% year-to-date.

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