Home / Business and Economy / Nvidia CEO Praises Nebius Cloud Amid Stock Surge
Nvidia CEO Praises Nebius Cloud Amid Stock Surge
1 Jun
Summary
- Nvidia invested $2 billion in Nebius in March.
- Nebius stock has rocketed 1,786% year to date.
- Jensen Huang praised Nebius' rapid growth and customers.
Nebius experienced a significant premarket share increase, climbing over 5%, following high praise from Nvidia CEO Jensen Huang at the Computex conference. Huang highlighted Nebius's rapid expansion and impressive clientele, which includes notable companies like Cursor, Revolut, and Shopify.
This endorsement from Nvidia, which invested $2 billion in Nebius in March, has contributed to a remarkable 1,786% surge in NBIS stock year-to-date. Retail investors have reacted positively, with Nebius being a top discussion topic on Stocktwits.
Further speculation suggests that Anthropic, a leading AI firm, might turn to Nebius for additional cloud capacity. This potential development, coupled with an 18% short interest, is seen by traders as a significant catalyst that could drive the stock even higher.
Nebius is recognized as a burgeoning neocloud company attracting investor attention due to the booming demand for AI cloud infrastructure. The company has recently secured major cloud contracts with Microsoft and Meta Platforms, and a former OpenAI researcher's hedge fund disclosed a 5.6% stake last week.
