Nebius Group NV (NASDAQ:NBIS) shares climbed to a new 52-week high of $183.60 and is going higher during Wednesday's session. The rally follows a period of intense institutional momentum.

The Nasdaq is up 1.42% while the S&P 500 has gained 1.11%.

Investors are positioning themselves ahead of the company's first quarter of 2026 earnings report, confirmed for May 13.

• Nebius Group shares are testing new highs. Why are NBIS shares at highs?

Eigen AI Acquisition Fuels Sentiment

Residual excitement from the Friday acquisition of Eigen AI supports today’s price action. Nebius disclosed that the deal is valued at roughly $643 million in cash and Class A shares. The company stated the move aims to bolster Nebius Token Factory as a leading managed inference platform.

Earnings Expectations

Analyst estimates for the upcoming quarter suggest a massive scale-up. Revenue is projected at $374.23 million, up significantly from $55.30 million. However, analysts also forecast a loss per share of 73 cents, compared to a previous 39 cent loss.

Critical Levels To Watch for NBIS Stock

From a trend perspective, Nebius remains firmly in an uptrend: it's trading 21.7% above its 20-day SMA ($152.74) and 85.8% above its 200-day SMA ($100.07), which infers that the longer-term trend is still doing the heavy lifting.

The 20-day SMA is also above the 50-day SMA, and the 50-day SMA is above the 200-day SMA — two bullish alignment signals that typically show sustained institutional demand.

• Key Resistance: $179.96 — Sitting at the 52-week high, a natural breakout/overhead supply level
• Key Support: $152.74 — Near the 20-day SMA, a first "trend check" area if the stock pulls back

NBIS Stock Price Activity: Nebius Group shares were up 8.95% at $191.64 at the time of publication on Wednesday, according to Benzinga Pro data.

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