Nvidia’s 9.3% Stake in AI Cloud Firm Nebius Sends Shares Surging

(WS News) – Nvidia has disclosed a 9.3 percent ownership stake in Nebius Group, an Amsterdam-based artificial intelligence cloud infrastructure company, sending Nebius shares surging as much as 17 percent as investors reassessed the depth of the chipmaker’s ties to the fast-growing “neocloud” sector.

A regulatory filing showed Nvidia now holds approximately 22.26 million Class A shares of Nebius, made up of roughly 1.19 million common shares plus about 21 million shares tied to a warrant obtained as part of a $2 billion investment Nvidia announced earlier this year. The warrant cannot be exercised before September 11, 2026, and the underlying shares carry similar sale restrictions until then.

The stake underscores a deepening partnership between the two companies centered on AI infrastructure deployment, fleet management and data-center design support, with Nebius targeting more than 5 gigawatts of hyperscale AI cloud capacity by 2030. Nebius, which emerged from the former Yandex following its restructuring, has seen its shares climb nearly 250 percent over the past year, pushing its market value to roughly $46 billion.

The disclosure also coincided with a wave of bullish analyst notes, including an upgrade from Freedom Capital, which raised its price target to $200 from $159. Nebius is scheduled to report second-quarter results on July 29, a date investors will be watching closely to see whether the company’s underlying performance can justify its sharply higher valuation following Nvidia’s endorsement.