Nebius stock surged 18.78% on Tuesday after Nvidia disclosed a 9.3% beneficial stake in the Amsterdam-based AI cloud company, representing approximately 22.26 million shares, according to a Schedule 13G filing released July 20.
The stake stems from Nvidia’s $2 billion strategic investment announced in March 2026, which positioned the chipmaker as a major backer of Nebius’s AI infrastructure expansion. The filing revealed that Nvidia is restricted from exercising warrants or selling the underlying shares before September 11, 2026, a lock-up period tied to the original investment terms.
Nebius has emerged as one of Europe’s fastest-growing AI infrastructure providers, riding accelerating demand for GPU-backed cloud computing capacity. In the first quarter of 2026, the company reported revenue of $399 million, a 684% increase year-over-year, with its core AI cloud business growing even faster at 841% annually to $389.7 million.
The public disclosure of Nvidia’s stake signals deepening confidence in Nebius as a critical partner in the global race to build AI infrastructure. Nvidia has committed over $40 billion across its investment portfolio in 2026, backing multiple cloud providers, data center operators, and networking firms as demand for AI computing capacity continues to outpace supply. The chipmaker’s earlier $2 billion investment in Nebius was part of a broader strategy to support companies building the full-stack AI cloud ecosystem.
Nebius’s contracted backlog exceeded $50 billion as of Q1 2026, and the company expects to expand its data center capacity to 2.5 gigawatts by the end of 2026. Analysts project the company’s full-year revenue to reach between $3.2 billion and $3.4 billion in 2026, driven almost entirely by AI infrastructure demand. This growth trajectory reflects the acute global shortage of AI computing capacity, which has become a bottleneck for enterprises and AI model developers seeking to scale their operations.
The market’s reaction to Nvidia’s stake disclosure underscores investor appetite for exposure to AI infrastructure plays. Nebius recently secured $775 million in debt financing in July to fund its capital-intensive expansion, and the company has also secured multi-billion-dollar partnerships with major cloud customers seeking dedicated GPU capacity. The combination of explosive revenue growth, a massive addressable market, and strategic backing from Nvidia has made Nebius a focal point for investors betting on the infrastructure layer of the AI boom.
Sources
- CNBC — Nebius stock surge and Nvidia 9.3% stake disclosure with market reaction
- Yahoo Finance — Nvidia’s 9.3% beneficial ownership filing and share count
- Investing.com — SEC Schedule 13G filing details on warrant restrictions and September 11 lock-up
- Reuters — Nebius Q1 2026 revenue growth and quarterly financial results
- Motley Fool — Nebius Q1 2026 earnings, AI cloud revenue growth, and 2026 guidance
- Futurum Group — Nebius Q1 2026 earnings and AI cloud capacity scaling
- National CIO Review — Nvidia’s $40 billion investment portfolio across AI infrastructure in 2026
