Prediction: This Will Be Nebius Group's Stock Price in 2026

After a phenomenal performance in 2025, shares of Nebius Group (NASDAQ: NBIS) have gotten off to a great start in the new year. The next-generation cloud infrastructure company that provides a full-stack artificial intelligence (AI) data center platform to customers for training, deploying, and scaling AI applications has seen its share price jump nearly 28% so far in 2026, as of this writing.

It is worth noting that Nebius' stock price tripled last year, so investors may be wondering whether it can sustain its momentum for the rest of 2026. After all, Nebius is trading at an expensive valuation right now, which may weigh on the stock's performance this year.

Let's take a closer look at the company's prospects and valuation to find out if it is capable of soaring higher.

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Nebius is expensive, but that's half the story

Nebius' stunning rally in the past year has brought its price-to-sales ratio to 65. That's extremely high when we consider that the U.S. technology sector index has an average sales multiple of just under 9. However, the massive premium that Nebius is trading at can be justified by two factors.

First, the company is growing at a red-hot pace. Its revenue shot up by a whopping 437% in the first nine months of 2025 to $302 million. Even better, the company reduced its adjusted net loss by 61% during this period. Nebius' outstanding growth is the result of the terrific demand for dedicated AI data centers.

The company builds and deploys data centers powered by graphics processing units (GPUs) and other AI accelerators, offering data storage and compute solutions for the training and fine-tuning of models. It also provides software services that enable users to build applications used in various industries such as healthcare, media, and robotics.

Second, there is a shortage of demand for these dedicated AI data centers. Goldman Sachs points out that data center demand in the U.S. will exceed supply by 9 gigawatts (GW) in 2026. Nebius, therefore, operates in a demand-surplus environment, which explains why the company has sold out all of its available data center capacity.

The company aims to boost its connected data center power capacity by 4x to 5x in 2026. That should translate into outstanding revenue growth, given that it already has lucrative contracts to fulfill.

Solid stock price upside is in the cards this year

Nebius' 12-month price target of $155, as per 10 analysts covering the stock, points toward potential gains of 44% from current levels. The stock, however, could do better than that. Consensus estimates are expecting a 521% jump in Nebius' revenue in 2026 to $3.45 billion, well above the 373% growth it is estimated to have clocked for 2025.

If the stock indeed achieves this level of revenue and trades at 20 times sales (a huge discount to its trailing sales multiple), its market cap could jump to $69 billion. That points toward a potential jump of 155% from current levels, which means that Nebius could be trading at $276 a share by the end of the year. So, this high-flying AI stock can still make investors richer in the new year after a stellar 2025.

Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group. The Motley Fool has a disclosure policy.