Nvidia Just Plowed Nearly $4 Billion Into a Company That's Reshaping the Cloud Industry, Increasing Its Stake by 18-Fold. Investors Should Be Paying Attention.
The chipmaker now holds a 9.3% stake in this fledgling company.
Overview
For more than three years now, Nvidia (NASDAQ:NVDA) has been at the center of the most significant technology shift in decades. The company was a linchpin in the early 2023 advent of artificial intelligence (AI) and has been at the heart of the AI boom ever since. The chipmaker has been investing in ancillary products and adjacent industries, thereby expanding its reach. In the latest development, Nvidia significantly increased its position in one area of AI infrastructure: neoclouds.
According to a recent filing with the Securities and Exchange Commission (SEC), Nvidia now has 12% of its investment portfolio in Nebius (NASDAQ:NBIS), after increasing its stake by more than $3.8 billion. Nvidia previously owned roughly 1.1 million shares of Nebius stock, but boosted its stake by more than 21 million shares and now owns roughly 9.3% of the company.
Details
Source
Originally published at www.fool.com.