On Tuesday, Nebius Group led gains among neocloud stocks after new details came out about how much chipmaker Nvidia has invested in the cloud-computing company.
Nebius shares rose 6.5% in premarket trading, beating the 3% to 5% gains seen by other companies as investors showed renewed interest in artificial intelligence stocks.
The extra boost followed Nvidia’s announcement late Monday that it owns a 9.3% stake in Nebius, or about 22.26 million shares. This was not unexpected, since Nvidia had already revealed a $2 billion investment in Nebius in March, adding to an earlier stake. Nvidia holds about 1.19 million shares directly and 21.07 million shares through pre-funded warrants. The shares from the warrants cannot be exercised or sold until September 11, according to the filing.
Some AI skeptics have questioned Nvidia’s habit of investing in companies that also buy or lease its hardware. Supporters say this is a smart way for Nvidia to use its extra cash, since it lowers the company’s dependence on just a few big chip customers and helps secure future demand for its AI processors.
So far this year, Nebius has been the best-performing neocloud stock, more than doubling in value in 2026 before Tuesday’s session. In contrast, CoreWeave, the biggest company in the neocloud group, is up only 2% over the same time.
Beyond Nvidia’s backing, Nebius investors have also welcomed a cloud computing agreement the company struck with Meta Platforms in March, which could be worth up to $27 billion.
