Where Will Nebius Stock Be in 1 Year?
Nebius (NASDAQ: NBIS) was once known as Yandex, which owned Russia's top search engine and its associated websites, apps, and cloud services. But the sanctions against Russia derailed its expansion plans, and its shares were suspended in early 2022.
Yandex subsequently divested its Russian assets, retained its non-Russian businesses, and rebranded itself as Nebius, an Amsterdam-based provider of artificial intelligence (AI) infrastructure services. The rebooted company's shares started trading again at $14.29 per share on Oct. 21, 2024.
Today, Nebius' stock trades at about $100. That massive rally was driven by the explosive growth of the AI market, but could it soar even higher over the next 12 months? Let's review its business model, future catalysts, and valuations to decide.
Source Fool.com
