Nebius Group (NASDAQ:NBIS) faces intense competition in its space, with pressure from US-based giants expected to continue. Despite an 80% rally since mid-March, the author remains bearish on the stock. Fundamental flaws are ignored in the valuation, making the stock a riskier investment. Nebius Group N.V. (NASDAQ:NBIS), a technology company specializing in building full-stack infrastructure for the global AI industry, has been under significant pressure from US-based tech giants. Despite an 80% rally in its stock price since mid-March, the company continues to face intense competition and remains a risky investment, according to Hiroshi Watanabe's analysis. Nebius Group operates Nebius, an AI-centric cloud platform, and has expanded its AI infrastructure to support AI innovation at scale. The company recently announced a collaboration with Ark Data Centres to deploy thousands of NVIDIA Blackwell Ultra GPUs in the UK, demonstrating its commitment to expanding its AI infrastructure globally [2]. However, this expansion comes at a time when US tech giants are intensifying their competition in the AI infrastructure market.

The competition in the AI infrastructure market is expected to intensify, and Nebius Group (NASDAQ:NBIS) is facing significant pressure from US-based tech giants. Despite an 80