Nvidia discloses 9.3% beneficial stake in Nebius, mostly via a warrant

A Schedule 13G filed by NVIDIA reports beneficial ownership of 22,256,412 Nebius Class A shares, or 9.3% of the class. About 21.1 million of those shares come from a pre-funded warrant acquired March 11, 2026, in a private placement of roughly $2 billion, with a $0.0001 exercise price. NVIDIA cannot exercise the warrant or sell the underlying shares before September 11, 2026, and it certified the stake was not held to influence control.

• 22,256,412 Class A shares beneficially owned, 9.3% of the class
• About 21.07 million shares are issuable on a pre-funded warrant acquired March 11, 2026
• Warrant exercise price $0.0001 per share; private placement worth about $2 billion
• Exercise and sale are restricted until September 11, 2026
• NVIDIA filed as a passive holder under Rule 13d-1(c)