Aschenbrenner Fund Takes 5.6% Stake in Nvidia-Backed Nebius

Leopold Aschenbrenner’s $13.7 billion Situational Awareness Fund disclosed a 5.6% stake in Nebius Group on May 28, 2026, underscoring strong investor appetite for AI infrastructure plays. The move follows Nebius’s 684% year-over-year Q1 revenue surge and Nvidia’s $2 billion commitment by 2030. Shares have climbed 103% since the March collaboration announcement, with management guiding to $3.5 billion revenue in 2026 and $11 billion in 2027. The disclosure reinforces bullish sentiment across GPU-heavy neocloud providers while highlighting risks such as heavy capex and energy constraints.