Nvidia Holds $100M Stake in AI Cloud Firm Nebius
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- Nvidia disclosed ownership of nearly 1.19 million shares of Nebius, valued at over $100 million, in its Q4 2025 Form 13F filing.
- Nebius operates as an AI-first cloud computing provider offering Nvidia GPUs as a full-stack solution, with clients including Microsoft and Meta Platforms.
- Nebius expanded from 2 data centers at end of 2024 to 7 by end of 2025, with plans to operate 16 locations by end of 2026 and own the majority rather than rent them.
- Nebius posted Q4 2025 revenue of $228 million, up 547% year over year, ending the year with a $1.25 billion annual run rate (ARR).
- Nebius projects its ARR will reach $7 billion to $9 billion by the end of 2026.
- The source argues Nvidia's role as Nebius's primary GPU supplier gives it unique visibility into the business, making the $100 million stake a signal the chip giant expects Nebius to outperform its own stock.
Why it matters: The source argues Nebius's projected ARR jump to $7–9 billion by end of 2026 — from $1.25 billion today — could outpace Nvidia's own growth, and Nvidia's position as Nebius's primary GPU supplier gives it unique visibility into demand before backing the company with over $100 million of capital.
