Why Nebius Stock Soared Today
The AI cloud company has the backing of a semiconductor giant.
Overview
Shares of Nebius Group (NASDAQ: NBIS) surged on Tuesday after Nvidia (NASDAQ: NVDA) disclosed a sizable stake in the cloud infrastructure specialist.
Image source: Getty Images.
In a filing with the U.S. Securities and Exchange Commission (SEC), Nvidia said it owns 22,256,412 shares of Nebius via common stock and prefunded warrants. That amounts to a 9.3% equity stake in the data center operator, currently valued at about $5 billion.
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Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.