Nebius Shares Jump 11% After Hedge Fund Buys $2.6B Stake
CRWV•Nebius shares soared 11% overnight after AI-focused hedge fund Situational Awareness LP disclosed a 5.6% stake (12.41 million Class A shares) valued at $2.6 billion. If gains hold, Nebius’s $52.4 billion market cap could approach CoreWeave’s $56.9 billion, potentially making it the top neocloud player.
1. Hedge Fund Stake Disclosure
On May 28 the AI-focused fund Situational Awareness LP revealed a 5.6% position in Nebius, owning 12.41 million Class A shares valued at $2.6 billion, making it the company’s largest institutional investor.
2. Market Cap Implications
The overnight 11% surge lifted Nebius’s market capitalization to $52.4 billion, narrowing the gap with CoreWeave’s $56.9 billion value and positioning Nebius to potentially overtake the neocloud leader.
3. Sentiment and Trading Activity
Retail sentiment flipped to bullish as message volume spiked 212%, with traders highlighting the high-conviction institutional move while some caution that the rally may lose steam after recent gains.
