Nvidia (NASDAQ: NVDA), which is led by CEO Jensen Huang, is the most influential company in the artificial intelligence (AI) ecosystem and currently the largest company in the world by market cap. Given its prevalence in AI, the company also uses its own capital to invest in other AI stocks, some of which are partners that purchase the company’s chips and other hardware necessary to power the technology.
One company that Nvidia invests in is the AI infrastructure company Nebius Group (NASDAQ: NBIS). At the end of the second quarter, Nvidia owned close to 1.2 million shares of Nebius, which, at the time, were valued at roughly $65.8 million.
Recently, Nebius struck a blockbuster deal, sending shares soaring, and investors can’t seem to get enough of the stock.