NBIS Stock Dips Premarket: Nebius Clears Hurdle For Microsoft Deal As Vineland Approves Data Center Expansion

Nebius stock declined 2% in early premarket trading Tuesday amid market volatility linked to renewed attacks in the Strait of Hormuz. But traders were focused on a key update that clears the way for one of the company’s most important cloud deals.

The Vineland Planning Board voted to approve Phase 2 of the data center already under construction in the South Jersey town on Monday night, NBC10 Philadelphia reported. Phase 1 is already under construction, and Phase 2 will add 600,000 square feet to the project.

Nebius’ Vineland, New Jersey, data center is being developed by DataOne as a major AI infrastructure campus. The project was initially approved as a roughly 300-megawatt facility, with DataOne later proposing a larger build-out that could reach 350 MW.

The expansion stalled over amendments. Vineland’s Planning Board held up its approval amid public pushback over noise, water use, emissions, LNG storage, and the project’s scale.

The site is strategically important for Nebius…