Shares of Nebius (NBIS) are soaring 5.64% in intraday trading, continuing the company's impressive run in the artificial intelligence (AI) sector. The stock's surge comes on the heels of a recently announced multi-billion dollar deal with Microsoft and growing investor confidence in the company's AI infrastructure business.

Nebius, which operates data centers specifically tailored for running large language models, has been one of the most explosive stocks in the market this year. The company's revenue jumped 625% to $105.1 million in the second quarter, reflecting the intense demand for AI computing power. The recent $17.4 billion deal with Microsoft, spanning from 2026 to 2031, has further cemented Nebius' position as a key player in the AI infrastructure space.

Despite the stock's meteoric rise of over 400% this year, some analysts believe there could be more room for growth. The company's CEO, Arkady Volozh, has hinted at the potential for more deals in the pipeline. However, investors should note that Nebius remains a high-risk stock, with the company still reporting operating losses as it continues to invest heavily in expansion. As the AI narrative continues to evolve, Nebius' performance is likely to remain closely tied to the broader demand for AI computing power.