Nebius Group N.V. (NASDAQ: NBIS), the Amsterdam-headquartered AI cloud infrastructure company, has completed its acquisition of Eigen AI, marking a significant expansion of its software capabilities.
The transaction was originally announced on May 1, 2026, and officially closed on June 10 following receipt of all required regulatory approvals and satisfaction of customary closing conditions.
Nebius stated the acquisition is expected to strengthen its AI software and infrastructure capabilities as demand for large-scale AI computing continues to accelerate across global markets.
The company, which carries a market capitalization of $72.79 billion, has been building out a vertically integrated platform targeting startups, enterprises, and foundation model developers.
Nebius was established in 2024 following the restructuring of Yandex, and has since positioned itself as a provider of NVIDIA-powered GPU clusters, cloud platforms, and AI development tools.
Ahead of the acquisition closing, BofA analyst Tal Liani raised the firm’s price target on NBIS to $280 from $240 on June 8, while maintaining a Buy rating on the stock.
Liani cited strengthening demand for AI compute capacity as a primary driver behind the more bullish outlook, pointing to increasing enterprise adoption of large-scale AI infrastructure.
The analyst also highlighted the growing strategic importance of Nebius’ software stack as a key differentiator in a competitive and rapidly evolving AI cloud market.
The company’s vertically integrated model, combining hardware infrastructure with proprietary software tools, is seen as a competitive advantage as foundation model developers seek end-to-end solutions.
Nebius shares have attracted attention from analysts tracking companies with the potential to double in value over a two-year horizon, given the pace of growth in AI infrastructure demand.
The Eigen AI deal adds further depth to Nebius’ product offering at a time when hyperscalers and specialist AI cloud providers are competing aggressively for enterprise workloads and developer mindshare.
With the acquisition now formally closed and analyst price targets moving higher, Nebius appears to be executing on a clear strategy to scale its position in the global AI infrastructure market.
