The AI cloud infrastructure company's stock climbed from a previous close of $193.23, with investors reacting positively to its second-quarter financial results. The rally was further bolstered by a bullish assessment from Goldman Sachs analyst Alexander Duval, who assigned the highest price target on Wall Street, citing constrained GPU supply and Nebius's asset-light cloud infrastructure model as competitive advantages. Positive sentiment in the wider neocloud sector, including CoreWeave's strong results and reports of Nvidia's $500 billion infrastructure funding initiative involving Nebius, also contributed to the gains. High short interest, representing approximately 24% of the company's free float, magnified the upward movement.