M&AJul 21, 2026, 16:47 UTC

Nvidia takes 9.3% stake in Nebius, sending shares up 6%

What's the deal? Nvidia has acquired a 9.3% stake in Amsterdam-based neocloud provider Nebius, lifting the company's shares 6%. Nebius, which sells AI computing infrastructure, now holds a market capitalisation of roughly $46 billion. Neither company responded to requests for comment.

Why now? Nvidia had already committed $2 billion to Nebius, with the two working together on fleet management, inference, and the design and support of AI factories. The stake deepens a partnership formed as demand for AI infrastructure climbs.

What's the endgame? Nebius is building out AI computing capacity in Europe and has landed a string of deals with large technology firms in 2026. Earlier in the year, Meta agreed to invest as much as $27 billion into Nebius' AI infrastructure over the long term.

The company's stock has risen nearly 250% over the year to July 2026. Freedom Capital Markets upgraded Nebius to a "buy" rating after the firm raised $775 million through its first senior secured debt facility, backed by deployed GPU infrastructure and contracted customer cash flows. Freedom called the raise a "positive catalyst."

The signal: Nvidia has been steadily taking stakes across the AI market, including a $30 billion contribution to OpenAI's $110 billion round in March 2026 and participation in Anthropic's $30 billion raise in February 2026. The Nebius stake extends that strategy into cloud infrastructure — the layer that turns Nvidia's chips into services, tying its customers ever closer to its own hardware.