Microsoft Signs $17B AI Infrastructure Deal with Nebius After $2.6B Stake Reveal
MSFT•Situational Awareness fund disclosed a 5.6% NBIS stake (12.41 million shares) valued at $2.6 billion, fueling a 10% share rally. In September 2025, Microsoft locked in a multiyear AI infrastructure agreement with NBIS expected to generate $17 billion in revenue.
1. Significant NBIS Position by Situational Awareness
Situational Awareness, a hedge fund managed by former OpenAI researchers, filed a Schedule 13G disclosing ownership of 12.41 million Nebius shares, representing a 5.6% passive stake valued at approximately $2.6 billion based on current market prices.
2. Nebius Share Rally Following Stake Disclosure
Nebius shares jumped over 10% immediately after the filing, climbing to their highest level in two weeks and marking a 475% gain over the past 12 months, with retail sentiment turning decisively bullish.
3. Microsoft’s $17 B AI Infrastructure Contract
In September 2025, Microsoft entered a multiyear agreement with Nebius to secure AI and high-performance computing capacity, with the deal expected to deliver $17 billion in revenue to Nebius over its term.
4. Strategic Implications for Microsoft
The contract secures dedicated AI infrastructure to support Microsoft’s cloud and AI services, potentially boosting long-term revenue and expanding capacity for large-scale AI model training and deployment.
