The AI-driven portfolio trimmed its NASDAQ:NBIS position citing overbought conditions and waning near-term upside potential.
An AI-managed stock portfolio reduced its holding in Nebius Group (NASDAQ:NBIS) after the stock surged 92% between late March and mid-May. The portfolio sold 25 shares, retaining 100, citing a 100% gain in 90 days and an RSI of 68 indicating overbought territory.
Nebius Group, an AI-focused cloud infrastructure provider, has seen strong demand for GPU computing power, driving rapid stock appreciation. The portfolio noted rising competition, including a Google-Blackstone AI cloud venture, as a potential margin risk.
The move reflects caution amid questions over sustained AI-driven returns, though the portfolio maintained a core position for further upside.