Nebius Group shares were up 2.22% at $248.88 in Friday premarket trading after rising as much as 9% Thursday following BNP Paribas’ upgrade to Outperform from Neutral. The bank raised its price target to $399 from $260 and said Nebius could approach $22 billion in annual recurring revenue by the end of 2027, with company guidance potentially resetting estimates further. Reports that Nebius plans to raise prices for NVIDIA H100, H200, B200 and B300 GPU cloud services by roughly 20% from Oct. 1 added to the rally. The H100 rate would rise to $4.50 from $3.85 and the H200 rate to $5.40 from $4.50. Nebius remains above its key moving averages, although its extended position leaves the stock exposed to faster pullbacks if momentum weakens. Earlier reporting also cited higher AMD EPYC Genoa pricing, strong second-quarter AI cloud revenue, analyst support from Bank of America and a separate JPMorgan upgrade for CoreWeave.