Nvidia Just Revealed It Owns 9.3% of Nebius. The Stock Jumped Nearly 19% on Tuesday -- Here's What Nvidia Is Actually Buying.
Yahoo Finance ·
Nvidia ( NVDA +2.39% ) disclosed this week that it beneficially owns 9.3% of Nebius Group ( NBIS +0.61% ) , an artificial intelligence (AI) cloud infrastructure provider that has become one of the market's hottest stocks. The disclosure came in a Schedule 13G (which Nvidia filed under the rule for passive investors) covering about 22.3 million shares. Investors treated it as a vote of confidence. Nebius shares jumped nearly 19% on Tuesday, to close at $217.09. The stock is up more than 300% over the past year. But the market may be reacting to the headline number rather than the fine print. What Nvidia actually owns, and why, tells a more useful story for investors. The 9.3% figure comes with two big qualifiers.
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