New AI Cloud Powerhouse: Executives Sell Large Stakes in Succession

On May 13, Andrey Korolenko, Chief Infrastructure Officer of Nebius Group N.V. (NBIS), exercised 500,000 stock options and immediately sold the entire lot at $203.24 per share, raising approximately $101.6 million (about KRW 140 billion). After the transaction, his direct holdings fell from roughly 1.08 million to 580,000 shares, yet at the sale price they still represent about $118.9 million (around KRW 170 billion). The company noted that, as a foreign private issuer, this sale is not subject to the short-swing profit rules under the U.S. Securities Exchange Act.

On May 15, Chief Revenue Officer Mark Boroditsky, under a pre-established Rule 10b5-1 trading plan, sold several thousand shares of Class A common stock at about $217.55 per share, realizing roughly $980,000 (around KRW 1.4 billion). His holdings immediately declined to approximately 37,000 shares. Both executives’ transactions were disclosed as option exercises and planned sales, with no additional compensation arrangements or contract amendments reported.

In its May 13 release of first-quarter 2026 results, Nebius reported year-on-year revenue growth of nearly eightfold. To meet rising AI infrastructure demand, it raised its annual capital expenditure guidance to $20–25 billion (up to roughly KRW 35 trillion) and unveiled plans for a new AI factory in Pennsylvania, securing up to 1.2 gigawatts of power and the necessary land. ()

Nebius Group N.V., headquartered in Amsterdam, specializes in AI cloud infrastructure. The company spun off from Yandex in 2024, rebranded, and went public on Nasdaq. It counts major technology firms such as Meta and Microsoft among its clients, providing GPU-based cloud and AI platforms to developers and enterprises worldwide. Recently, Nebius has been aggressively expanding AI-dedicated data centers and so-called “AI factories” across the U.S. and Europe, strengthening its position as one of the emerging “neo-cloud” providers in the AI infrastructure market. (; )