Nvidia Has Given a Massive Boost to This AI Infrastructure Stock. Buy It Before It Doubles in 3 Years
Neocloud infrastructure provider Nebius has solid backing from Nvidia, and it is on track to multiply its revenue substantially over the next three years.
Overview
Shares of neocloud infrastructure provider Nebius Group (NASDAQ: NBIS) shot up nearly 19% on July 21 after it emerged that Nvidia has a significant stake in the company.
According to a filing with the U.S. Securities and Exchange Commission (SEC), Nvidia has a 9.3% equity stake in Nebius, which amounts to just over $5 billion as of this writing. It is worth noting that Nvidia announced a $2 billion investment in Nebius in March this year to help the neocloud specialist deploy more than 5 gigawatts (GW) of artificial intelligence (AI) data center capacity by the end of the decade.
Details
That investment has grown substantially. The AI stock has jumped over 67% since Nvidia announced it was backing Nebius on March 11. The good news is that Nebius still has significant upside potential, given the fast-growing AI data center market it serves. Let's see why this Nvidia-backed AI infrastructure specialist is destined to be a long-term winner.
Source
Originally published at www.fool.com.