Nvidia-linked shares rallied in Monday trading. Nebius up 13%; CoreWeave up 11%; RXRX, Innoviz Technologies Ltd. up 3%; Aurora Innovation rose 2%.

Nebius Group's rally appears to be fueled by Nebius's announcement of its launch in the United Kingdom, where it will be expanding Britain's AI infrastructure with Nvidia Blackwell Ultra technology. This move aligns with the company's aggressive growth strategy, which aims to increase its annual recurring revenue (ARR) run rate from the current $249 million to between $750 million and $1 billion by year-end.

Investors are showing increased interest in Nebius's unique offering of cloud-based infrastructure-as-a-service (IaaS) for AI developers. The company is strategically positioned to benefit from the projected $6.7 trillion investment in AI infrastructure over the next decade, according to McKinsey & Company. As demand for AI computing power continues to surge, Nebius's expanding data center footprint and partnerships with industry leaders like Nvidia could make it an attractive option for investors looking to capitalize on the AI boom.

Applied Digital’s recent surge has caught the market’s attention. The stock jumped 103% last week.

Applied Digital, a developer of digital infrastructure for high-performance computing (HPC) applications, has signed two approximately 15-year lease agreements with AI cloud-computing startup CoreWeave this week.

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.

CoreWeave shares jumped 26% last week. In partnership with Nvidia and IBM, CoreWeave ran 2,496 GB200 GPUs on its AI-focused cloud platform to complete the industry's largest-ever MLPerf Training v5.0 submission. The benchmarked cluster was over 30 times larger than that of the only other cloud provider participant.

The company said the system achieved a top result using the Llama 3.1 405B foundational model, finishing the run in just over 27 minutes. Training performance across similar cluster sizes was more than twice as fast compared to rival submissions, according to CoreWeave.

The firm said these performance gains are critical for speeding up AI development cycles and reducing training costs for clients. CoreWeave added that its customers may be able to deploy models months ahead of competitors using its infrastructure.

The company brought the GB200 GPUs online in April, following its public listing in March, and was the first cloud provider to offer them broadly at scale.