Nebius Group shares jump after fund reveals 5.6% stake

Shares of Nebius Group surged this week after a prominent investment fund disclosed a major stake in the AI infrastructure company, adding momentum to a stock that has already seen extraordinary gains this year. The Amsterdam-based firm’s share price rose sharply following a regulatory filing showing that Situational Awareness, a fund managed by former OpenAI researcher Leopold Aschenbrenner, had accumulated a 5.6% stake, making it the company’s largest shareholder.

The disclosure represents a significant vote of confidence in Nebius as investors continue to seek companies positioned to capitalize on booming demand for artificial intelligence computing power. Nebius operates in the so-called "neocloud" sector, providing the specialized infrastructure and high-performance graphics processing units (GPUs) required for training and running advanced AI models.

The company’s financial performance has fueled its rapid ascent. In its most recent quarterly report, Nebius announced revenue of $399 million, a staggering 684% increase compared to the same period last year. Its AI infrastructure segment grew even faster, at 841% year-over-year. Executives noted that customer demand...