Nebius stock surged as Nvidia revealed a 9.3% stake in the Dutch AI cloud operator through a Monday SEC filing, confirming the chip giant’s deepening commitment to the neocloud sector.
Nvidia beneficially owns 22.25 million Class A ordinary shares of Nebius, according to the company’s 13G filing on Monday. The stake includes 1.19 million shares held directly and 21.07 million shares held via pre-funded warrants, the latter of which Nvidia is restricted from exercising or selling until September 11, 2026.
Nebius Group shares rose 4.6% overnight on Monday and climbed 7% in premarket trading on Tuesday, as investors digested the disclosure. The Amsterdam-based neocloud company has emerged as one of Europe’s leading AI infrastructure providers, competing alongside CoreWeave and other specialists in delivering dedicated compute capacity to AI developers and enterprises.
The 9.3% stake represents an increase from the estimated 8.3% position Nvidia held when it announced a $2 billion investment in Nebius in March 2026. That strategic investment was part of a broader partnership agreement covering AI infrastructure deployment, fleet management, inference platforms, and AI factory design.
Nebius has benefited from surging demand for dedicated AI compute outside the major cloud providers. In March, Meta signed a long-term agreement to spend up to $27 billion on Nebius infrastructure, one of the largest compute deals announced in the sector. The company also raised $775 million in debt last week backed by deployed GPU infrastructure and contracted cash flows from an investment-grade customer, accelerating its expansion plans.
Nvidia has been methodically building stakes in promising AI infrastructure companies. The pattern mirrors its earlier $2 billion investment in CoreWeave announced in January 2026, where the chip supplier now holds a 7% stake. By investing in both the hardware side and the infrastructure operators who deploy that hardware, Nvidia positions itself to benefit from the AI buildout regardless of which neocloud providers ultimately dominate the market.
Freedom Capital Markets upgraded Nebius to ‘Buy’ earlier Monday, lifting its price target to $200 from $159, implying 9.5% upside from the stock’s closing price that day. The company’s market cap stood at $46 billion as of Tuesday morning. Analysts note that 10 of 16 analysts covering the stock rate it ‘Buy’ or higher, with an average price target of $258.71 implying 42% upside from current levels.
Sources
- CNBC — Nvidia’s 9.3% stake disclosure and Nebius stock reaction on July 21, 2026
- Yahoo Finance / Stocktwits — Nvidia’s beneficial ownership details (22.25 million shares, warrant restrictions, 4.6% overnight gain)
- CNBC — March 2026 Nvidia investment, Meta’s $27 billion agreement, and competitive context
- Yahoo Finance — Nebius market cap and analyst ratings (10 of 16 Buy or higher, average target $258.71)
- Stock Titan / SEC filing — Confirmation of 22,256,412 Class A shares representing 9.3% ownership
