TLDR
- Leopold Aschenbrenner’s Situational Awareness fund bought a 5.6% stake in Nebius Group worth ~$2.86 billion
- NBIS stock jumped over 12% in after-hours trading following the disclosure
- Nebius is now up nearly 150% year-to-date and 423% over the past 52 weeks
- The stock trades at a P/E ratio of 68.45x, reflecting a high valuation premium
- Insider selling totalled $123.8 million over the past three months, with no insider buying reported
Nebius Group (NBIS) stock jumped more than 12% in after-hours trading Wednesday after prominent AI investor Leopold Aschenbrenner’s Situational Awareness fund disclosed a 5.6% stake in the neocloud company.
The fund purchased 12.41 million Class A shares, valued at approximately $2.86 billion based on Wednesday’s closing price of $208.37. After the news broke, the stock moved to around $233.60 per share.
That after-hours pop builds on an already eye-catching run. NBIS had gained nearly 150% year-to-date through Wednesday’s close and is up 423% over the past 52 weeks.
Aschenbrenner is a former OpenAI researcher who left the company and launched Situational Awareness, a fund focused on companies positioned to benefit from AI development. He named the fund after a 2024 essay in which he argued that effectively superhuman AI could arrive as soon as 2027.
Nebius isn’t the only neocloud in his portfolio. Situational Awareness also holds positions in CoreWeave (CRWV) and IREN.
What Is Nebius?
Nebius operates as a vertically integrated cloud provider focused on AI and high-performance computing. It was carved out from the Russian tech firm Yandex following the Ukraine-Russia war and has since been expanding data center infrastructure across Europe and the U.S.
The company has a market cap of approximately $52.9 billion and has a partnership with Microsoft.
Valuation and Insider Activity
The stock carries a P/E ratio of 68.45x, which means investors are paying a significant premium for future growth expectations rather than current earnings.
GF Score, a composite financial rating from GuruFocus, puts Nebius at 52 out of 100. That places it in average territory across financial strength, profitability, and growth metrics.
Financial strength is rated just 4 out of 10, reflecting a history of operating losses and elevated debt levels. Profitability scores 5 out of 10.
On the insider front, the picture is mixed. Over the past three months, insiders sold $123.8 million worth of stock and there were no insider purchases reported.
That level of insider selling can raise questions, though it doesn’t always indicate a negative view — executives and early holders often sell for personal financial planning reasons.
Aschenbrenner’s stake makes Nebius one of the fund’s largest holdings. The disclosure came Wednesday and triggered the after-hours move.
NBIS was last trading around $233.60 following the news.
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