Nebius shares surged after the disclosure of the size of Nvidia's stake

Shares of Nebius Group, which provides artificial intelligence infrastructure, rose more than 6% during morning trading in New York on July 21, before the start of the main trading session.

The day before, Nebius disclosed in a filing with the U.S. Securities and Exchange Commission (SEC) that Nvidia, the global leader in AI graphics processing units, holds a 9.3% stake in Nebius. The information was released after the U.S. stock markets closed.

According to a report by Nebius, Nvidia holds nearly 22.26 million shares: 1.19 million shares, which the chipmaker reported in its first-quarter results, and an additional 21.07 million shares covered by a warrant that Nvidia acquired on March 11. The warrant entitles Nvidia to receive Nebius shares in the future: it cannot exercise the warrant before September 11, 2026, and cannot sell these shares before that date. However, under SEC rules, it is already considered the beneficial owner of the securities, the document states.

On March 11, Nvidia announced that it would invest $2 billion in billionaire Arkady Volozh’s cloud computing company. At the same time, Nebius disclosed details about the warrant and the number of shares it represents. The companies agreed to collaborate on deploying artificial intelligence infrastructure, managing computing clusters, handling inference tasks (providing responses to queries), and designing and supporting AI factories. Nvidia also promised to give Nebius access to new generations of Nvidia’s accelerated computing solutions to deploy more than 5 gigawatts of computing power by the end of 2030. For comparison: one gigawatt is enough to power approximately 750,000 households simultaneously, Bloomberg explained.

In 2024, Nebius raised $700 million from a number of investors, including Nvidia. As of December 2024, Nvidia held Nebius shares worth approximately $33 million.

Nebius shares have more than doubled in price since the beginning of 2026—rising 118%. Most analysts recommend buying the company’s stock: it has 10 “Buy” ratings versus six “Hold” ratings and one “Underweight” rating (which corresponds to a “sell” signal), according to MarketWatch. The average target price of $269.36 implies a 47.5% increase from the closing price on July 21.

This article was AI-translated and verified by a human editor