NBIS

Nebius Group N.V. (NASDAQ: NBIS) is a Netherlands-based technology company focused on building infrastructure and services for the global AI industry. Below is a detailed overview of its key business, competitive moat, CEO background, and market share based on available information.

### Key Business

Nebius Group operates as a full-stack AI infrastructure provider, delivering solutions to support AI development and deployment. Its primary business segments include:[](https://finance.yahoo.com/quote/NBIS/)[](https://stockanalysis.com/stocks/nbis/)[](https://seekingalpha.com/symbol/NBIS)

- **Nebius AI**: An AI-centric cloud platform optimized for intensive AI workloads, offering large-scale GPU clusters, cloud services, and developer tools. It supports machine learning and generative AI applications, with plans to deploy advanced NVIDIA Blackwell Ultra GPUs by Q2 2025.[](https://www.stocktitan.net/news/NBIS/)

- **Toloka AI**: A data solutions business providing high-quality data for generative AI development, including agent safety evaluation and red teaming. It serves major clients like Amazon, Anthropic, Microsoft, and Shopify.[](https://www.stocktitan.net/news/NBIS/)

- **TripleTen**: An edtech platform focused on reskilling individuals for tech careers, particularly in AI and related fields.

- **Avride**: Develops autonomous driving technology for self-driving cars and delivery robots.

- **Minority Investments**: Nebius holds a 28% stake in ClickHouse, a database management company, and other AI-focused ventures.[](https://x.com/wallstengine/status/1920959421447831985)

The company operates data centers in Mäntsälä (Finland), Paris (Equinix), Kansas City (under construction), and Vineland, New Jersey (300MW, under construction). It emphasizes energy-efficient infrastructure, with a Power Usage Effectiveness (PUE) of 1.13 in some facilities.[](https://en.wikipedia.org/wiki/Nebius_Group)[](https://www.advfn.com/stock-market/NASDAQ/NBIS/stock-price)

In 2024, Nebius reported full-year revenue of $117.5M (up 462% YoY), with Q4 AI cloud revenue up 602% YoY. It projects annualized run-rate revenue (ARR) of $750M–$1B by the end of 2025, driven by AI demand.[](https://stockanalysis.com/stocks/nbis/)[](https://x.com/Beth_Kindig/status/1908634232726991002)

### Business Key Moat

Nebius Group’s competitive moat stems from several strategic advantages:[](https://hedgefundalpha.com/from-russia-with-cash-nebius-group/)

1. **Vertical Integration**: Nebius offers a full-stack AI ecosystem, combining GPU clusters, cloud platforms, and developer tools. This integrated approach differentiates it from competitors focused solely on compute or software, enabling tailored solutions for AI workloads.[](https://stockanalysis.com/stocks/nbis/)

2. **Strategic Partnerships**: Investments from NVIDIA, Accel, and Bezos Expeditions (Jeff Bezos’ investment arm) provide capital and technological credibility. Nebius is an early adopter of NVIDIA’s Blackwell Ultra platform, securing access to cutting-edge GPUs.[](https://www.stocktitan.net/news/NBIS/nebius-announces-oversubscribed-strategic-equity-financing-of-usd-kk20vd7zwirk.html)[](https://www.stocktitan.net/news/NBIS/)

3. **Debt-Free Balance Sheet **: With $3B in cash post a $700M private placement in December 2024, Nebius is well-capitalized, enabling rapid scaling of infrastructure without financial strain.[](https://hedgefundalpha.com/from-russia-with-cash-nebius-group/)[](https://www.stocktitan.net/news/NBIS/nebius-announces-oversubscribed-strategic-equity-financing-of-usd-kk20vd7zwirk.html)

4. **Experienced Engineering Team**: The company leverages a seasoned team from its Yandex days, with expertise in building scalable tech infrastructure, giving it an edge in developing robust AI solutions.[](https://hedgefundalpha.com/from-russia-with-cash-nebius-group/)

5. **Diversified Portfolio**: Beyond its core AI cloud business, subsidiaries like Toloka, TripleTen, and Avride provide additional revenue streams and potential for value-unlocking spinoffs or sales.[](https://x.com/mvcinvesting/status/1883928962583384377)

6. **European Base with Global Reach**: Headquartered in Amsterdam with R&D hubs across Europe, North America, and Israel, Nebius is well-positioned to serve European AI companies while expanding into the U.S. market, where compute scarcity drives demand.[](https://hedgefundalpha.com/from-russia-with-cash-nebius-group/)

However, the GPU rental market faces risks of commoditization, and Nebius must continue building software tools to create a defensible ecosystem.[](https://hedgefundalpha.com/from-russia-with-cash-nebius-group/)

### CEO Background

The CEO of Nebius Group is **Arkady Volozh**, who also founded the company in 1989 as Yandex N.V., often dubbed the “Russian Google.”[](https://en.wikipedia.org/wiki/Nebius_Group)[](https://group.nebius.com/newsroom/nebius-group-announces-planned-resumption-of-trading-on-nasdaq-and-provides-investor-update)

- **Background**: Volozh is a serial entrepreneur with a deep technical and business acumen. He built Yandex into a leading search and digital services provider in Russia, demonstrating his ability to scale complex tech businesses. His vision for Nebius is to transform it into a global AI infrastructure leader, leveraging his experience in navigating competitive markets.

- **Post-Yandex Transition**: Following Russia’s invasion of Ukraine in 2022, Yandex faced sanctions and trading halts on NASDAQ. Volozh successfully divested Yandex’s Russian assets in July 2024, severing all ties with Russia, and rebranded the remaining international businesses as Nebius Group. This strategic pivot highlights his adaptability and leadership in high-stakes environments.[](https://en.wikipedia.org/wiki/Nebius_Group)[]

(https://group.nebius.com/newsroom/nebius-group-announces-planned-resumption-of-trading-on-nasdaq-and-provides-investor-update)

- **Sanctions Context**: Volozh was briefly on Western sanctions lists due to Yandex’s Russian operations but has since been removed, allowing him to focus on Nebius’s global ambitions.

### Market Share

Precise market share data for Nebius Group in the AI infrastructure market is not publicly available, as the sector is fragmented and dominated by hyperscalers (e.g., AWS, Microsoft Azure, Google Cloud) alongside emerging players like CoreWeave. However, some insights can be drawn:

- **AI Cloud Market Position**: Nebius is a smaller but fast-growing player in the AI cloud space, competing with CoreWeave, Lambda Labs, and hyperscalers. Its $220M ARR in March 2025 and projected $750M–$1B by year-end 2025 suggest it is capturing a niche but growing share of the AI workload market, particularly in Europe.[](https://stockanalysis.com/stocks/nbis/)[](https://x.com/Beth_Kindig/status/1908634232726991002)

- **Comparison to CoreWeave**: CoreWeave, a key competitor, is valued at over 10x its ~$2.3B 2024 revenue, while Nebius trades at ~3.3x its projected ARR, indicating it may be undervalued relative to peers.[](https://hedgefundalpha.com/from-russia-with-cash-nebius-group/)

- **Client Base**: Toloka’s partnerships with Amazon, Anthropic, Microsoft, and Shopify indicate Nebius is gaining traction among major tech firms, though it remains a smaller player compared to hyperscalers.[](https://www.stocktitan.net/news/NBIS/)

- **Market Opportunity**: The AI infrastructure market is expanding rapidly due to compute scarcity, with even hyperscalers renting capacity from providers like Nebius. The company’s planned tripling of data center capacity by 2026 positions it to capture a larger share as demand grows.[](https://x.com/thexcapitalist/status/1898729920244695283)

### Conclusion

Nebius Group’s key business is providing full-stack AI infrastructure, with a strong focus on GPU-powered cloud platforms. Its moat lies in vertical integration, strategic partnerships, and a debt-free balance sheet. CEO Arkady Volozh brings proven leadership from scaling Yandex, navigating geopolitical challenges to reposition Nebius as a global AI player. While exact market share is unclear, Nebius is a fast-growing contender in the AI cloud market, with significant upside potential as it expands capacity and leverages its diversified portfolio.

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Nebius Group N.V. (US:NBIS) has 412 institutional owners and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These institutions hold a total of 91,707,170 shares. Largest shareholders include Orbis Allan Gray Ltd, Slate Path Capital LP, Citadel Advisors Llc, Accel Leaders 4 Associates L.P., Invesco Ltd., Fred Alger Management, Llc, Citadel Advisors Llc, Susquehanna International Group, Llp, Susquehanna International Group, Llp, and FBGRX - Fidelity Blue Chip Growth Fund .

Nebius Group N.V. (NasdaqGS:NBIS) institutional ownership structure shows current positions in the company by institutions and funds, as well as latest changes in position size. Major shareholders can include individual investors, mutual funds, hedge funds, or institutions. The Schedule 13D indicates that the investor holds (or held) more than 5% of the company and intends (or intended) to actively pursue a change in business strategy. Schedule 13G indicates a passive investment of over 5%.

The share price as of May 16, 2025 is 37.32 / share. Previously, on October 21, 2024, the share price was 20.00 / share. This represents an increase of 86.60% over that period.