Nebius Group N.V. shares climbed nearly 12% in morning trading Monday, extending a rebound for the AI cloud infrastructure provider as investors digested a multiyear computing contract and the activation of next-generation Nvidia hardware. Adjusted EBITDA for the group turned positive at $130 million in the first quarter, with a 32% margin, while the AI cloud business posted a 45% adjusted EBITDA margin. Nvidia holds a notable stake in Nebius and has deepened technical collaboration, including recognition of Nebius infrastructure for advanced GPU generations. The Reflection AI contract provides additional multiyear revenue visibility at a time when AI infrastructure providers face high upfront costs before utilization ramps. The latest announcements have provided near-term catalysts for the shares amid broader positive sentiment toward AI infrastructure names.