Shares of Nebius Group N.V. (NBIS) advanced 0.4% to $88.98 in premarket activity on Thursday, February 12, 2026, partially recouping losses from the prior session. The stock had closed Wednesday's trading down 3.46% at $88.61, on volume of approximately 13.9 million shares, with an intraday range between $87.14 and $94.75.
Earnings and Strategic Acquisition in Focus
The Amsterdam-based artificial intelligence cloud infrastructure provider is scheduled to release its fourth-quarter and full-year 2025 financial results before the U.S. market opens. Management will host a live webcast at 8:00 a.m. Eastern Time to discuss the figures. Investor attention is intensely focused on the company's path to scaling its leased GPU computing business, which powers both AI model training and inference operations, while managing associated infrastructure costs.
Adding to the strategic narrative, Nebius announced earlier this week an agreement to acquire Tavily, a startup specializing in "agentic search" technology. This technology is designed to enable AI agents to autonomously retrieve real-time data from the web. Roman Chernin, Nebius's Chief Business Officer, stated the move "integrates the search layer directly into our technology stack." In a regulatory filing dated February 10, the company disclosed it will pay an upfront cash consideration for Tavily, with additional potential payouts to Tavily stakeholders contingent on performance milestones. These subsequent payments could be made in cash, Class A ordinary shares, or a mix of both. The transaction does not require shareholder approval and is expected to close subject to customary conditions.
Deal Valuation and Market Context
While Nebius has not publicly disclosed the financial terms, a report from Bloomberg, citing a person familiar with the matter, indicated the acquisition is valued at $275 million. In communications to its user base, Tavily's founder and CEO, Rotem Weiss, sought to assure customers that current API and data policies will remain unchanged post-acquisition.
The upcoming earnings report is seen as a critical catalyst for the stock. Analysts and traders will scrutinize management's guidance for 2026, particularly regarding customer demand trends relative to capital expenditure plans for data center and GPU supply expansion. Details on the integration timeline for Tavily and its projected impact on software revenue and margins will also be key to forward-looking models.
Analyst opinions on the stock currently reflect a divergence in focus. TipRanks data shows Morgan Stanley analyst Josh Baer maintains a Hold rating, while Paul Meeks of Freedom Capital Markets recently initiated coverage with a Buy recommendation, highlighting the debate between prioritizing top-line growth versus infrastructure cost containment.
Significant risks remain palpable for investors. A weaker-than-anticipated financial forecast, signs of escalating operating expenses, or any hiccups in the GPU supply chain could pressure a stock already characterized by high volatility. Furthermore, the final cost of the Tavily acquisition, including the potential dilutive effect if a portion of the earnout is settled in equity, introduces an element of uncertainty. As of early Thursday, the company's investor relations page listed the Q4 and full-year 2025 materials as "soon to be published," setting the stage for the market-moving earnings release and subsequent conference call.
