Nebius Group N.V. (NBIS) is trading at $122.69 in pre-market on October 27, 2025, up 4.63% after a 10.46% surge to $117.26 on October 24, 2025. This strong momentum comes as 203 million Class A shares are set to exit lock-up restrictions on October 26, 2025, a major liquidity event that could impact supply and trading dynamics. Investors are also positioning ahead of Nebius's Q3 2025 earnings, scheduled for November 11, 2025, with the company highlighted as a top AI infrastructure provider and recent analyst upgrades. No negative company-specific news has emerged, and the move is amplified by strong market sentiment in the technology sector.