Nvidia-Linked Shares Rally. Applied Digital up 9%; SoundHound AI up 8%; NEBIUS up 6%; Innoviz up over 4%
Tiger Newspress
Oct 02
Nvidia-linked shares rallied on Thursday. Applied Digital up 9%; SoundHound AI up 8%; NEBIUS up 6%; Innoviz up over 4%.
Microsoft Corp.’s deal with neocloud company Nebius Group will provide computing power to internal teams creating large language models and a consumer AI assistant, according to people familiar with the situation.
The arrangement, which is worth as much as $19.4 billion, sparked a rally in Nebius shares when it was outlined Sept. 8, but the announcement was short on specifics. As part of the deal, Microsoft will get access to more than 100,000 of Nvidia Corp.’s latest GB300 chips, said the people, who requested anonymity to discuss an internal matter.
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