DA Davidson cut its price target on Nebius Group (NASDAQ: NBIS) to $175 from $250 on Monday, a 30% reduction driven by construction delays at the company’s Vineland, New Jersey data center project. DA Davidson noted that the stock’s strong performance reflected Nebius’ track record of delivering capacity on schedule, making the Vineland project a critical test of whether it can sustain that pace. In September 2025, Nebius reached an agreement to provide Microsoft with dedicated AI infrastructure from the new Vineland data center, and the company said in July that it had handed over the latest planned capacity tranche to Microsoft and remained on track for remaining deliveries.