Shares of Nebius Group NV (NASDAQ:NBIS), a leading AI infrastructure company, are surging 5.00% in pre-market trading on Friday. This upward momentum follows a 5.08% gain in Thursday's regular trading session, driven by a major strategic announcement that has reinvigorated investor confidence in the stock.

The primary catalyst for Nebius's stock rally is the recent news that its autonomous driving subsidiary, Avride, has secured up to $375 million in investments and commitments. This substantial funding round, backed by ride-hailing giant Uber and Nebius itself, demonstrates strong confidence in the company's autonomous vehicle technology. The investment is aimed at rapidly scaling Avride's autonomous vehicle services and solidifying its partnership with Uber, with plans to launch a robotaxi service on the Uber platform in Dallas by the end of 2025.

This positive development comes after a period of decline, with Nebius shares having dropped 12% over the previous five sessions. However, institutional investors reportedly viewed this dip as a buying opportunity, contributing to the stock's rebound. As Nebius prepares to release its third-quarter financial results on November 11, investors will be closely watching to see if the company can maintain its upward trajectory. Analysts are expecting the company to report a loss of 49 cents per share on revenue of $155.11 million. With Nebius boasting a high Momentum score of 99.08 according to Benzinga Edge stock rankings, market sentiment appears to be increasingly positive towards the AI infrastructure firm.