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Nebius shares jump 34% after strong Q2 report, challenging Michael Burry's short thesis.

Market News
12 Aug 2026
24/7 Wall Street
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Bullish
Nebius shares jump 34% after strong Q2 report, challenging Michael Burry's short thesis.

Nebius Group's shares surged 34% following a robust Q2 2026 report showing 454% revenue growth and improved pricing strategies, undermining Michael Burry's short thesis on GPU depreciation. Palantir also posted strong results with 93% revenue growth and raised its 2026 guidance, while CoreWeave's long-term GPU contracts challenge depreciation concerns. Despite losses and valuation risks, recent data supports a more durable business outlook for these AI cloud companies, shifting investor focus to whether these gains hold and how short positions adjust.

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