Nebius shares soared yesterday as the market learned NVIDIA has built a 9.3% stake in Nebius, the AI neocloud company it had previously invested in earlier this year.
Nebius shares closed up 18% in overnight US trade.
Nasdaq-listed Nebius has positioned itself as a full-stack AI cloud provider serving customers from AI natives through to enterprises and saw revenue surge 684% in Q1.
NVIDIA previously invested $2bn in Nebius as part of a strategic partnership to develop and deploy the next generation of hyperscale AI cloud.
At the time of the $2bn investment in March, NVIDIA said the deal reflects its confidence in the group’s engineering depth across the full AI technology stack. Such was its confidence in the company that it continued to build its stake to 9.3%, worth around $5bn at the US close yesterday.
The partnership set out to support Nebius’s plans to deploy more than 5 gigawatts of capacity by the end of 2030, with NVIDIA backing the company’s early adoption of its latest accelerated computing platforms, including the Rubin platform, Vera CPUs and BlueField storage systems.
The two companies are collaborating across AI factory design and support, with access to design materials, early samples and system software support, alongside the creation of a best-in-class inference and agentic AI stack for developers and enterprises using NVIDIA’s latest software, models and libraries.
Nebius has emerged as the leader in AI cloud services with shares up over 140% year to date.