Nebius Group is trading 4.3% up at $202.36 today, driven by the announcement of a new 'asset-light' AI cloud partnership model and a reassessment of its $1 billion multi-year computing deal with Reflection AI through 2029. - The company introduced a new model allowing partners to finance, own, and operate AI data centers, expanding capacity with minimal capital requirements for Nebius. - This recovery follows a 7.8% drop on July 14, amidst concerns over AI infrastructure capital expenditure and broader tech sector profit-taking. - Today's gains also align with a broader tech-led market rise after cooler-than-expected U.S. inflation data.