Nebius Group has seen its stock rise sharply since early 2025 lows.
The company, focused on AI data centers, aims to contract more than 4 GW of power by the end of 2026. This expansion could support annual recurring revenue of around $36 billion. Officials have raised capital expenditure targets to between $20 billion and $25 billion.
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Hut 8 announced a 15-year lease valued at $9.8 billion for a large-scale AI data center in Texas, sending its shares up nearly 30 percent on Wednesday. The deal covers 352 megawatts of capacity at the company's Beacon Point campus and includes options that could raise the total value to $25.1 billion.
Nebius Group continues to see strong interest in its AI computing services.
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An investment analysis highlights Constellation Energy as a strong buy due to growing power needs for artificial intelligence.
Global tech giants are ramping up AI investments to record levels relative to operating cash flow, straining their finances. Jefferies analyst Chris Wood cautions that monetisation remains uncertain despite the spending boom. He warns the sector may mirror capital-intensive industries amid intensifying competition.
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Japanese conglomerate Softbank announced an investment of up to 75 billion euros in artificial intelligence-related data centers in France. The announcement came on the eve of the Choose France summit held in Versailles.