Mentioned:
Nvidia is injecting major cash into a publicly traded company. And they want to start scaling up data centres globally for high performance computing.
What’s happening:
- Artificial intelligence cloud platform company Nebius (NASDAQ: NBIS) has raised $700M USD in a new equity financing round
- The round was led by Nvidia (NASDAQ: NVDA) and Accel
Why it matters:
- Nebius is planning to use the new growth capital to begin rapidly scaling up the construction of new data centres for the purpose of artificial intelligence cloud computing as well as launching new GPU clusters
- Building out new data centres for high performance computing has continued to ramp up in the public markets, with Core Scientific (NASDAQ: CORZ) and CoreWeave notably just recently beginning construction of a new facility in Oklahoma
Going deeper:
- Nebius has been rapidly expanding the scale of the GPUs they have access to, previously tripling the capacity at their flagship Finland based data centre
- Nvidia has been making multiple bets on publicly traded companies focused on expanding their data centre operations, including previously leading a financing round for Applied Digital (NASDAQ: APLD)
