Shares of Nebius Group (NBIS +14.46%) climbed to a record high on Monday after Nvidia CEO Jensen Huang spoke highly about the neocloud.
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Nebius gets a shout-out
During his keynote address at the COMPUTEX technology trade show in Taiwan, Huang lauded Nebius as one of a select group of "world-class AI clouds." "Recently we worked with Nebius, and again, they're growing incredibly fast," Huang said.
He noted the cloud computing provider's "incredible customers," including agentic AI-powered coding platform Cursor, spatial intelligence leader World Labs, digital banking services provider Revolut, and e-commerce giant Shopify.
NASDAQ: NBIS
Key Data Points
Nvidia invested $2 billion in Nebius in March. The two companies formed a strategic partnership to accelerate the development of cloud computing infrastructure for the rapidly expanding artificial intelligence (AI) market. Nebius' data centers feature Nvidia's cutting-edge graphics processing units (GPUs), along with related equipment and software.
Respected investors are also taking notice
Huang's comments come after a recent regulatory filing showed that closely watched hedge fund Situational Awareness acquired more than 12.4 million shares of Nebius stock, which would currently be valued at a whopping $3.3 billion.
Situational Awareness is led by former OpenAI researcher Leopold Aschenbrenner. The fund oversees a portfolio with a market value of roughly $13.7 billion as of March 31.
