Nebius Group N.V. Acquires MagicByte, Inc. (d/b/a Eigen AI Labs)

Nebius Group N.V. has entered into a merger agreement to acquire MagicByte, Inc., d/b/a Eigen AI Labs. The transaction involves two mergers, with Eigen AI Labs being acquired through its subsidiaries. The agreement includes customary representations, warranties, and covenants. Both Nebius and Eigen AI Labs' boards have approved the transaction, which is not subject to Nebius shareholder approval. Closing conditions include antitrust clearance, with the transaction expected to close in the coming months. The consideration consists of up to approximately $98 million in cash and around 3.8 million Nebius Class A shares, subject to adjustments. A portion of the stock consideration for founders and employees will be subject to time-based restrictions and potential forfeiture over four years. This acquisition is expected to strengthen Nebius's capabilities in AI inference and model optimization.