Nebius (NBIS) Stock Is Surging Friday: What's Going On?
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Shares of Nebius Group NV (NASDAQ:NBIS) surged 8.72% to $115.42 on Friday, driven by positive news regarding its autonomous driving subsidiary, Avride, which secured up to $375 million in funding from Uber. This investment aims to enhance Avride's services and launch a robotaxi service in Dallas by 2025. The rally was further supported by a cooler-than-expected September inflation report, raising hopes for Federal Reserve interest rate cuts. Investors are also anticipating the company's Q3 financial results, set to be released on Nov. 11th, with expected losses of 49 cents per share and revenue of $155.11 million.
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