AI stock surges after an ex-OpenAI employee’s fund disclosed a stake

Source Domain: www.cnbc.com

Nebius, a Dutch cloud provider spun out from Yandex, has seen significant activity and growth related to its provision of GPUs for AI model training.
Situational Awareness, a hedge fund associated with ex-OpenAI researcher Leopold Aschenbrenner, disclosed owning a substantial 5.6% stake in Nebius, amounting to 12.4 million Class A shares.
Nebius has experienced strong stock performance, with a 149% increase year-to-date and an 11% surge in premarket trading after the stake disclosure.
The company has solidified its position as a major AI compute provider in Europe, forming several strategic partnerships, including a notable $27 billion deal with Meta for compute capacity.
In March, Nebius secured a $2 billion investment from Nvidia, leading to collaboration on AI infrastructure projects, fleet management, and AI factory design.

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