Nebius shares surge 17 percent as Nvidia discloses a 9.3 percent stake

5:47 AM · July 21, 2026

Shares of Nebius, an Amsterdam based AI cloud company, surged 17 percent after a regulatory filing revealed Nvidia holds a 9.3 percent stake in the company, according to CNBC. The filing, released Monday, put Nvidia's position at approximately 22.26 million shares, a figure that incorporates shares tied to a warrant Nvidia received through its earlier 2 billion dollar investment in Nebius, meaning the disclosed stake reflects an existing relationship becoming more visible to the market rather than an entirely new investment. Nebius operates as a neocloud, a newer category of cloud provider built specifically around renting out AI compute capacity rather than offering the full general purpose cloud services of an established provider like AWS or Azure, a business model that has drawn significant investor interest as demand for AI training and inference capacity continues to outstrip supply. Nvidia and Nebius have both been approached for comment on the disclosure and its size relative to Nvidia's original investment. The stock's sharp reaction reflects how closely investors are now parsing any signal of which cloud and infrastructure providers major chipmakers like Nvidia are backing most heavily, treating Nvidia's own capital allocation choices as a meaningful signal about which parts of the AI infrastructure stack are best positioned for growth.