Shares of Nebius (NBIS) are soaring 5.06% in pre-market trading on Wednesday, building on the previous day's momentum and fueled by a positive analyst rating. The stock's upward movement reflects growing investor confidence in the company's position within the booming AI infrastructure sector.

Citizens has initiated coverage on Nebius Group with a "Market Outperform" rating, signaling strong expectations for the company's future performance. This vote of confidence from analysts comes as Nebius continues to solidify its status as one of Wall Street's favorite AI data center cloud capacity providers, alongside peers like CoreWeave (CRWV) and IREN Limited (IREN).

The pre-market surge follows a strong performance on Tuesday, where Nebius closed with a 5.3% increase. This continued upward trajectory suggests that investors are increasingly recognizing the company's potential in the rapidly expanding AI infrastructure market. As demand for AI computing power grows, cloud capacity providers like Nebius are well-positioned to benefit from this trend, potentially driving further stock appreciation in the coming sessions.