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Nebius Group N.V. (NASDAQ:NBIS) has surged more than 40% over the past month. However, the stock’s short float remains elevated at more than 20%, making it one of the AI Bubble Stocks to Short Now According to Reddit. Much of the gains, almost 20%, came after the company posted strong results in fiscal Q1 2026 earnings, released on May 13.

​During the quarter, Nebius Group N.V. (NASDAQ:NBIS) posted $399 million in revenue, reflecting 684% year-over-year growth and topping the expectations of $388.57 million. The EPS of negative $0.39 also came in ahead of the expectations of negative $0.78. The company’s AI segment drove 98% of the total revenue and grew more than 840% year-over-year to reach $390 million.

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​Recently, on June 2, BNP Paribas initiated coverage of the stock with a Hold rating and a $255 price target. Earlier on May 14, Compass Point had raised the firm’s price target from $150 to $260 and maintained a Buy rating on the shares.

​Nebius Group NV (NASDAQ:NBIS) is a technology company that provides infrastructure and services to AI builders worldwide. It offers Nebius AI, an AI-centric cloud platform that provides full-stack infrastructure, including large-scale GPU clusters, cloud services, and developer tools.

While we acknowledge the potential of NBIS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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