Nvidia has officially disclosed a 9.3% beneficial ownership stake in Nebius Group, the Amsterdam-based AI cloud infrastructure company. The chipmaker filed a Schedule 13G with the SEC on July 13, 2026, formalizing a position built from its $2 billion investment in March 2026. The market reacted positively, sending Nebius shares up over 4% in after-hours trading.
The stake comprises approximately 1.19 million Class A ordinary shares and access to 21.07 million shares via a pre-funded warrant. The filing classifies Nvidia as a passive investor, indicating no intent to control Nebius's strategy.
This move aligns with Nvidia's strategic capital deployment into AI infrastructure. The original investment was targeted at helping Nebius achieve its goal of deploying over 5 gigawatts of hyperscale AI cloud infrastructure by 2030. CEO Jensen Huang highlighted Nebius's progress at Computex in June.
Nebius, which emerged from the restructured former Yandex N.V., recently raised $775 million in debt financing backed by its GPU infrastructure assets. This signals growing financial market confidence in valuing high-performance compute hardware as core collateral.
Despite the momentum, significant execution risks remain. Nebius operates in a capital-intensive sector, and achieving its ambitious 2030 target will depend on supply chains, power availability, and sustained demand for enterprise AI cloud services.