Nebius shares climb after Nvidia reveals 9.3% ownership stake and analysts lift targets (NBIS)

Nebius Group shares rose 5.7% pre-market after Nvidia disclosed a 9.3% passive stake in the AI cloud infrastructure company via a Schedule 13G filing with the SEC. The filing showed Nvidia owns about 22.26 million shares, including roughly 1.19 million common shares and about 21 million shares tied to a warrant from Nvidia’s previously announced $2 billion strategic investment. The warrant cannot be exercised before 11 September 2026. Sentiment was further supported by bullish analyst actions: Freedom Capital upgraded Nebius to Buy and lifted its target to $200, Northland raised its target to $410, and Bank of America reiterated Buy with a $280 target. Broader tech strength, with the Nasdaq up 1.3% pre-market, also helped. Markets now await Nebius’s second-quarter earnings on 29 July 2026 to see whether fundamentals justify the re-rating.