Boroditsky said developments affecting other players were weighing on NBIS stock price. He believes the market will return to more normal conditions as investors recognize Nebius’ financing structure.
- Nebius’ CRO said the company is securing larger upfront payments from customers to finance future growth.
- Piper Sandler warned that AI cloud stocks could remain “in the penalty box” until free cash flow improves or financing becomes clearer.
- Boroditsky said Nebius could sell out its planned 2027 capacity immediately at current prices if it made all of it available to sellers.
Nebius Group N.V. (NBIS) Chief Revenue Officer Marc Boroditsky said the company’s financing model is less exposed to the market pressures affecting other artificial intelligence (AI) cloud providers, amid growing investor concerns over debt-funded infrastructure expansion.
Speaking to CNBC on Wednesday at Nvidia’s GTC Berlin conference, Boroditsky was asked whether rising bond yields at CoreWeave signaled broader financing trouble for AI cloud companies.
Boroditsky said Nebius wasn’t facing the same situation because it didn’t carry the same kind of debt. He pointed to equity raises, convertible offerings and upfront customer payments as the company’s principal funding sources.
He also said Nebius consistently secured higher upfront payments from customers to support future capital expenditures.
Piper Sandler Warns AI Cloud Stocks Could Remain Under Pressure
Piper Sandler analyst James Fish lowered NBIS stock price target by 22% to $185 from $237 on Wednesday while maintaining a ‘Neutral’ rating, according to The Fly. The firm cited investor concerns over AI demand, return on invested capital and financing following selloffs exceeding 25% across several AI cloud stocks.
Piper reduced terminal valuation multiples across the sector, warning that stocks could remain “in the penalty box” until free cash flow improves or financing becomes clearer.
Still, Piper recommended gradually building positions during the pullback and reiterated CoreWeave Inc. (CRWV) as its preferred name, describing financing concerns surrounding the company as overblown relative to its assessment.
CoreWeave’s debt has faced scrutiny, with Reuters reporting that yields on its bonds due in 2031 briefly exceeded 16% last week. Nebius has also raised debt financing, including a $5.75 billion convertible senior notes offering in August and $775 million in its first secured debt financing in July.
Boroditsky said developments affecting other players were weighing on Nebius’ stock price. He believes the market will return to more normal conditions as investors recognize Nebius’ financing structure.
Nebius Sees Strong Demand And Further Pricing Upside
Boroditsky also pointed to SpaceX’s (SPCX) latest earnings as evidence of strong demand for AI computing capacity. Boroditsky said the results confirmed his view that computing supply “continues to fall far behind demand.”
Reflecting that demand at Nebius, he said the company could sell all its planned 2027 capacity immediately at current prices if it made that capacity available to its sales team.
However, Nebius is deliberately keeping some capacity in reserve to meet future customer requirements. Asked about 2028, he said customers were looking to secure capacity “further and further out,” adding that similar demand dynamics could extend into that year.
Nebius Expands GPU Pricing Options And AI Tools
Nebius also announced public live spot pricing for graphics processing unit (GPU) compute, giving customers greater visibility into costs. Its offerings include preemptible spot pricing, reserve auctions for short-term capacity and pay-as-you-go access without fixed-term commitments.
The company is also piloting a capacity-rebate program allowing customers to recover value by releasing idle GPUs into the spot capacity pool. Separately, Nebius highlighted its open-source Physical AI Workbench, developed in collaboration with Nvidia (NVDA).
What Retail Thinks About NBIS Stock
On Stocktwits, retail investors’ sentiment around NBIS stock remained in the ‘extremely bullish’ territory amid extremely high message volume.
So far in 2026, NBIS stock has surged over 90%, nearly doubling year-to-date. By comparison, the Invesco QQQ Trust, Series 1 (QQQ) and the Roundhill Generative AI & Technology ETF (CHAT), which hold the stock, have risen around 17% and 32%, respectively, over this period.
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