Nebius (NBIS) Stock Soars to Record Peak as AI-Focused Hedge Fund Takes Major Position

Key Takeaways

• Shares of Nebius climbed 8.7% to reach an unprecedented peak of $259.23 following a 13G SEC filing revealing that Situational Awareness LP acquired a 5.6% ownership position.
• Leopold Aschenbrenner, formerly a researcher at OpenAI, manages the hedge fund, which was established in 2024 based on the conviction that artificial intelligence advancement will create massive demand for computing infrastructure.
• First quarter 2026 revenue reached $399 million, representing a 684% increase compared to the prior year period, while AI Cloud segment revenue specifically soared 841% to $389.7 million.
• The company has elevated its 2026 capital expenditure guidance to a range of $20–$25 billion, supported by major agreements valued at $27 billion with Meta and $19.4 billion with Microsoft.
• Wall Street analysts show divergent views, with Citigroup setting a $287 price objective while BNP Paribas Exane launched coverage with a neutral stance and $255 target.

Shares of Nebius Group (NBIS) reached an unprecedented peak of $259.23 on June 1, 2026, climbing 8.7% during morning session trading even as broader equity markets experienced modest declines. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite each fell approximately 0.2% during the session, highlighting that NBIS outperformed major indices by nearly 8.8 percentage points driven entirely by company-specific developments.

Nebius Group N.V., NBIS

The driving force behind the rally was a Schedule 13G filing submitted to the SEC by Situational Awareness LP, revealing an acquisition of 12.4 million Nebius shares, equivalent to a 5.6% ownership position. Leopold Aschenbrenner, who previously worked as a researcher on OpenAI’s Superalignment team, established the fund in 2024. His investment philosophy centers on the belief that accelerating artificial intelligence development will fuel unprecedented demand for semiconductors, data facilities, and computational resources.

The filing attracted significant attention specifically due to the credibility of the investor involved. Aschenbrenner maintains a prominent reputation within AI research communities, and such a substantial, focused wager on a single cloud infrastructure provider demonstrates strong conviction in the company’s prospects.

Institutional accumulation of Nebius shares has accelerated in recent quarters. Forsta AP Fonden established a fresh position valued at approximately $3.98 million during the fourth quarter. Millennium Management initiated a stake worth about $11.6 million in the first quarter. Royal Bank of Canada and UBS Asset Management similarly entered positions during Q1. Collectively, hedge funds and institutional stakeholders now control 21.9% of outstanding shares.

Outstanding Quarterly Performance

The growing institutional appetite reflects strong fundamental performance. During the first quarter of 2026, Nebius delivered consolidated revenue of $399 million, marking a 684% surge year-over-year. The company’s primary AI Cloud division contributed $389.7 million, representing an 841% increase. On an annualized run-rate basis, revenue reached $1.92 billion by the conclusion of March.

Adjusted EBITDA turned positive at $129.5 million. Earnings per share registered at -$0.23 compared to analyst consensus expectations of -$0.77, beating estimates by $0.54. Revenue similarly exceeded the $375.13 million Wall Street forecast.

The equity has traded within a 12-month range spanning from $35.72 to $278.84, illustrating the dramatic trajectory of AI infrastructure investments over the past year.

Capital Investment Plans and Wall Street Perspectives

Nebius continues advancing aggressive expansion plans. Management increased the 2026 capital expenditure target to a range of $20–$25 billion, backed by substantial customer commitments including a $27 billion agreement with Meta Platforms and a $19.4 billion arrangement with Microsoft. Company guidance projects approximately 540% data center revenue expansion by year-end.

Citigroup maintains the most bullish Street view with a $287 price objective. Citizens JMP established a $270 target. BNP Paribas Exane launched research coverage during the current week with a neutral recommendation and $255 price target. The consensus rating across covering analysts stands at Moderate Buy with an average target of $188.31, although actual trading prices have significantly surpassed this benchmark.

Not all recent developments have been positive. Insider Andrey Korolenko divested 500,000 shares on May 13 at an average price of $203.24, generating proceeds of approximately $101.6 million — representing a 46% reduction in his holdings. Director Elena Bunina similarly sold roughly 10,894 shares on the same date, cutting her position by half.

Co-founder and Chief Business Officer Roman Chernin was scheduled to participate in a fireside discussion at the BofA Securities technology conference on June 3.

The post Nebius (NBIS) Stock Soars to Record Peak as AI-Focused Hedge Fund Takes Major Position appeared first on Blockonomi.