Nvidia stock has rebounded 20% over the last month. Since its most recent low in April, the move up is even sharper. After bottoming during the broader market sell-off caused by Donald Trump's tariff announcements, Nvidia stock has rebounded 45% from its April low, a gain of about $1 trillion in market cap.

Beyond NVIDIA itself, the market is also chasing the sectors and companies it invests in and supports. Nvidia’s “golden child” CoreWeave shares rallied 154.84% in the latest 20 trading days while Applied Digital soared 152%; Nebius jumped 71%; Recursion Pharmaceuticals, ARM Holdings(ARM also rose.

Nvidia Darling CoreWeave Pops on AI Growth Momentum, big Nvidia stake

CoreWeave revealed that major supplier Nvidia holds a 7% stake, up from its pre-IPO holdings. CoreWeave was the first pure-play AI IPO, and provides investors with a way to bet on the promise of generative AI, which has boomed in popularity since the launch of OpenAI’s ChatGPT in late 2022.

CoreWeavehas Q1’s 420%-plus revenue gain, headline-grabbing $4 billion OpenAI expansion and $2 billion investment from Nvidia speak to the increasing strategic value of CoreWeave, but the narrative is moving from hypergrowth into sustainable monetization.

CoreWeave is transforming from a high-growth infrastructure builder into a vertically integrated AI cloud platform with recurring revenue, enterprise penetration, and contract-driven capital efficiency. The $29 billion revenue backlog provides multi-year visibility, and the shift toward inference workloads and enterprise adoption indicates that this company is entering its next phase of monetization.

Applied Digital: Data Center Solutions Supplier

Applied Digital has signed two approximately 15-year lease agreements with AI cloud-computing startup CoreWeave.

Under the agreements, Applied Digital will provide 250MW of critical IT load to support CoreWeave’s AI and HPC infrastructure at its Ellendale, North Dakota data centre campus. The company expects to generate approximately $7bn in total revenue over the lease terms.

Meanwhile, Both Applied Digital and CoreWeave are backed by Nvidia, the most valuable company in the world and the chipmaking giant most associated with the rise of artificial intelligence. Nvidia held roughly 7.7 million shares of Applied Digital and 24.2 million shares of CoreWeave as of March 31, according to a regulatory filing.

Additionally, CoreWeave has disclosed in a 13G filing that it hold a 5.5% or a 13.06M share stake in the company.

Nvidia-Backed Data Center Nebius Is Soaring

Amsterdam-based artificial intelligence infrastructure company Nebius Group is carving a niche in the rapidly growing AI ecosystem. 

Backed by Nvidia through a $700 million private placement in December, Nebius is leveraging Nvidia’s cutting-edge H100 and Blackwell GPUs to power its AI cloud services. 

The company reported a 385% year-over-year revenue increase to $55.3 million in the first-quarter, driven by its AI infrastructure division, with a projected annualized run-rate revenue (ARR) of $750 million to $1 billion by year-end 2025. 

How to Trade Nvidia's Major Holdings Using Options

Besides trading Nvidia-linked stocks directly, you can also seize opportunities through cost-effective option spread strategies. Taking options related to Nebius Group expiring on July 11 as an example.

NEBIUS Bull Call Spread Strategies

Structure:

• Buy $48 Call | Sell $52 Call

  $NBIS Vertical 250711 48.0C/52.0C$

• Max Profit: $250

• Breakeven: $49.5

  

  Rationale:

• Balances cost and upside potential (analyst mean target: $52.33).