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Hedge Fund's Major Stake Drives Nebius Stock Higher

Nebius shares jumped in premarket trading Thursday following disclosure of a significant investment from Situational Awareness, a hedge fund focused on AI infrastructure. The fund now holds 12.4 million Class A shares in the Dutch cloud provider, according to regulatory filings. Situational Awareness manages billions and targets physical infrastructure supporting artificial intelligence development. Nebius, spun from Russian internet company Yandex, supplies graphics processing units for training AI models and has emerged as a key compute provider in Europe. The company recently secured a $27 billion agreement with Meta in March. The deal involves $12 billion in dedicated capacity and up to $15 billion in additional compute resources over five years. Nebius also received a $2 billion investment from Nvidia in the same month, establishing a collaboration on infrastructure deployment and AI factory design.