New York, June 1, 2026, 05:04 EDT
- Nebius (NASDAQ: NBIS) ended regular trading on Nasdaq at $231.09, almost touching its 52-week high of $233.73.
- Situational Awareness LP and associated investors reported a 5.6% stake in Nebius, with 12.41 million Class A shares, in a U.S. filing.
- Nebius’s next investor event is set for June 3, with co-founder and Chief Business Officer Roman Chernin due to host a fireside chat at the BofA Securities tech conference.
Nebius Group NV is trading close to its all-time highs as the U.S. session gets underway on Monday, after a well-known AI fund said it took a 5.6% stake. The move adds pressure for the stock to prove the recent rally has more than just momentum and scarcity in play.
Nasdaq’s main session hadn’t started yet in New York. Regular hours run from 9:30 a.m. to 4 p.m. Eastern, pre-market goes from 4 a.m. up to the opening bell. For 2026, June 1 isn’t on the exchange’s market holiday calendar.
Nebius is seen as one of the clearer plays on AI compute capacity in the public market, where demand for GPUs used in AI training and inference keeps outpacing chip supply. The stock moved after a Schedule 13G filing named Situational Awareness LP, SAF AI GP LP, Situational Awareness LLC, Situational Awareness Partners LP, Leopold Aschenbrenner and Carl Shulman as reporting holders of the Nebius stake.
Nebius shares gained 9% after the news broke Thursday, Reuters said. The report also said Situational Awareness became the largest shareholder in the Amsterdam-based company, based on LSEG data. “This stake indicates he sees the most leverage right now in AI clouds and, specifically, Nebius,” Gil Luria, head of technology research at D.A. Davidson, told Reuters. Reuters
This trade puts Nebius alongside CoreWeave and IREN, two of the so-called neocloud players. These are newer firms that mainly rent out AI hardware instead of running big consumer cloud platforms. Barron’s said Situational Awareness holds sizable stakes in both CoreWeave and IREN.
Nebius’s first-quarter figures gave bulls some ammunition. The company posted revenue of $399.0 million, a 684% jump from the same period last year. Net income from continuing operations hit $621.2 million. The release also showed Nebius spent $2.47 billion on property, equipment and intangible assets, pointing to rising buildout costs.
Nebius in May said it lined up as much as 1.2 gigawatts of power and land for a new AI factory in Pennsylvania it will own. One gigawatt measures electric capacity. Power access is now a hard limit for AI data centers.
NebiUS CEO Arkady Volozh is calling the higher spend a response to customer demand, not a move to defend ground. “We typically see several customers competing for every GPU we bring online,” he told Reuters. Reuters
Valuation and execution are the sticking points. Reuters said Nebius boosted its 2026 capex outlook to $20 billion to $25 billion, up from $16 billion to $20 billion. Capex here goes to chips, servers, and data centers. If customer demand drops, if power isn’t delivered on time, or if financing costs climb, the same expansion that currently supports the shares could give investors a reason to exit.
Nebius will be back in the spotlight Wednesday at BofA Securities’ 2026 Global Technology conference, where Chernin has a fireside chat set for 4:20 p.m. EDT. Shares just closed near $231, with the 52-week high at $233.73. The focus now: Can Nebius take last week’s ownership surprise and build a push higher, or will traders need new supply agreements, power plans, and funding data to buy more?
