Nebius Shares Rise After Nvidia Discloses 9.3% Stake

According to CNBC, Nebius stock surged on Tuesday after Nvidia disclosed a 9.3% stake in the Amsterdam-based neocloud company. Shares were up 7% in premarket trading, and the stock has gained nearly 250% over the past 12 months, giving Nebius a market cap of $46 billion as of Tuesday morning. Nvidia previously said it would invest $2 billion in the Nasdaq-listed company, and the two firms plan to work together on AI infrastructure deployment, fleet management, inference, and AI factory design and support. In March, Meta signed a long-term agreement to spend up to $27 billion on Nebius' AI infrastructure. Nvidia has also taken stakes in other AI companies, including a $30 billion contribution to OpenAI's $110 billion funding round announced in March and participation in Anthropic's $30 billion raise in February.