Overview
- Nebius rose about 33% over the past week after The Information reported the company is pursuing Israel-based AI startup AI21, a move neither side has confirmed.
- AI21 chairman Amnon Shashua has said the company is weighing strategic options, and earlier talks with Nvidia reached late stages before falling through.
- Cantor Fitzgerald initiated coverage with an overweight rating and a $129 price target, citing fast-growing demand for compute tied to artificial intelligence.
- The company says it is building toward roughly 3 GW of contracted capacity this year, including a 1 GW data center in Independence, Missouri, and a 310 MW site in Finland slated to be fully online next year.
- Nebius points to deep industry backing and demand, noting Nvidia’s $2 billion investment and a separate $27 billion, decade-long compute contract with Meta.