Nebius Group N.V. (NASDAQ:NBIS) stock rose nearly 3% in Tuesday’s premarket trading after the AI infrastructure company announced a strategic partnership with Palantir Technologies Inc. (NASDAQ:PLTR). The gain came as Nasdaq futures slipped 0.04% and S&P 500 futures fell 0.32%.

Nebius Becomes Preferred Sovereign AI Infrastructure Partner

Palantir and Nebius will combine Palantir’s enterprise AI software with Nebius’ cloud infrastructure. The partnership aims to give businesses greater control over their AI models, data and computing resources.

Palantir named Nebius its preferred sovereign AI infrastructure partner. Following an integration period, Palantir plans to offer Nebius compute and inference endpoints within its enterprise platform.

The companies also plan to accelerate new computing capacity. That includes modular data centers at locations with available power.

Palantir CEO Alex Karp said Nebius’ infrastructure would allow customers to run AI models "under conditions you control."

See More: Top Value Stocks

Technical Analysis

NBIS remains in a bullish trend. The stock trades 3.7% above its 20-day simple moving average of $223.56 and 8.8% above its 50-day SMA of $213.08. It is also 49.7% above its 200-day SMA of $154.79.

The moving averages are stacked in bullish order, with the 20-day above the 50-day and the 50-day above the 200-day.

Meanwhile, the relative strength index stands at 52.91. That signals neutral momentum and suggests the stock is neither overbought nor oversold.

Resistance sits near $233.50, just above the premarket price. Support is around $200.50.

Analyst Outlook

Nebius carries a Buy consensus rating with an average price forecast of $248.83. Recent analyst moves include:

  • DA Davidson: Neutral (Maintains forecast to $175.00) (Aug. 13)
  • DA Davidson: Neutral (Raises forecast to $250.00) (Aug. 18)
  • Citigroup: Buy (Raises forecast to $324.00) (Aug. 14)

Price Action

NBIS Stock Price Activity: Nebius Group shares were up 2.73% at $232.56 during premarket trading on Tuesday, according to Benzinga Pro data.

Image via Shutterstock

Read Also: NVIDIA Names Nebius as First Customer