Nebius Group NV (NASDAQ:NBIS) is one of them 10 stocks dominated today’s market action.
Nebius Group snapped a four-day losing streak on Wednesday, rising 12.65 percent to end at $97.78 apiece, as investors filled portfolios after receiving local government approval to develop a 1.2 GW AI factory in Missouri.
In a statement on Tuesday, Nebius Group NV (NASDAQ:NBIS) said the Independence City Government has officially approved the 100 Industrial Development Incentive Plan for the AI Campus, paving the way for the official construction of the project.
Data center server racks. Photo by Brett Sills on Pixels
The Independence City AI plant will sit on 400 acres of land and have multiple buildings, a closed-loop cooling system that uses water comparable to that of a restaurant or office building, as well as noise reduction technology.
During full operation, the project is expected to create 1,200 skilled construction jobs, mostly in local building trades, along with 130 permanent high-tech positions.
Under the agreement, Nebius Group NV (NASDAQ:NBIS) will pay the city $650 million in payments in lieu of taxes (PILOT) over 20 years.
“Independence will be our largest AI factory in the United States to date, and we are fully committed to making it a project the city can be proud of,” said Nebius Group NV (NASDAQ: NBIS) CEO Arkady Volos. “This is our first project of this scale, but not our last.”
While we acknowledge the potential of NBIS as an investment, our belief is that some AI stocks have more promise to deliver higher returns and have limited risk. If you’re looking for a very cheap AI stock that’s also a big beneficiary of Trump’s tariffs and onsuring, check out our free report Best short-term AI stocks.
Read more: 30 stocks that should double in 3 years and 11 Secret AI Stocks to Buy Right Now.
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