Fred Alger Management Adds $474M in Nebius Group N.V. ($NBIS)
Key Points
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Fred Alger Management increased its position in Nebius Group N.V. ($NBIS) by 20.93% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,599,306 shares of Nebius Group N.V. after buying 1,661,403 shares during the quarter. Fred Alger Management's holdings in Nebius Group N.V. were worth $2.74 billion as of its most recent filing.
Nebius Group N.V. Stock Up 36.4%
Shares of Nebius Group N.V. ($NBIS) traded around $285.38 on Saturday, up 36.4% for the day.
Nebius Group N.V. Earnings
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About Nebius Group N.V.
Nebius Group N.V., a technology company, engages in building full-stack infrastructure to service the global AI industry in the United States, the United Kingdom, and internationally. It offers Nebius builds full-stack infrastructure for AI, including large-scale GPU clusters, cloud platforms, and tools and services for developers. The company also provides TripleTen, an edtech platform for re-skilling individuals for careers in technolgy; and Avride, which develops autonomous driving technology for self-driving cars and delivery robotics. It has a strategic alliance with NVIDIA Corporation to support the expansion of the company's AI cloud infrastructure. The company was formerly known as Yandex N.V. and changed its name to Nebius Group N.V. in August 2024. Nebius Group N.V. was founded in 1989 and is based in Schiphol, the Netherlands.
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