Nvidia invests US$2 billion in Nebius in new data centre deal
Published Wed, Mar 11, 2026 · 10:59 PM
[AMSTERDAM] Nvidia will invest US$2 billion in Nebius Group as part of a strategic partnership to develop and build artificial intelligence data centres, as the world’s most valuable firm continues to pour money into companies that buy its chips.
The deal will help Amsterdam-based Nebius deploy more than 5 gigawatts of Nvidia systems by the end of 2030, the Dutch company in a statement on Wednesday (Mar 11). That’s enough energy to power roughly 3.8 million homes at any given moment.
Nebius shares rose about 10 per cent in premarket trading before markets opened in New York. The stock price has more than tripled in the last year.
It’s one of a handful of newcomers to capitalise on the AI boom by building data centres tailor-made to train AI models and run services like ChatGPT. Nvidia has been using its enormous resources to finance this new breed of neocloud operators that compete with larger cloud-computing providers like Alphabet’s Google and Amazon.com, which are developing their own AI accelerators.
Much of Nvidia’s financing spree has gone to companies that buy its chips, leading to criticism that such circular investments are fuelling a bubble. In January, Nvidia announced a similar US$2 billion investment in Nebius competitor CoreWeave to deploy its products. It also put US$30 billion into OpenAI last month and participated in a US$2 billion funding round for UK neocloud Nscale announced this week.
Nvidia’s newest partnership will build upon Nebius’s existing use of the chipmaker’s tools. The companies will work together to design, build and manage AI data centres, according to Nebius. The company said its partnership will allow it to build infrastructure customised for “inference,” a term for running AI models and services once they are trained.
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Nebius was previously the Dutch holding company for Russian Internet giant Yandex. It was renamed in 2024 after it sold Yandex’s Russian business to a group of investors in Russia for US$5.2 billion. At the end of that year, Nebius raised US$700 million from a slate of investors that included Nvidia.
Nvidia owned about US$33 million worth of Nebius shares as of December 2024, according to a corporate filing shortly after that investment. BLOOMBERG
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