Nvidia announced on Wednesday that it will invest $2 billion in Nebius Group (NASDAQ: NBIS), a Amsterdam-based AI cloud company, as part of a strategic partnership to build hyperscale infrastructure for the AI market.

What the Deal Covers

The two companies will collaborate on AI infrastructure deployment, fleet management, inference optimization, and AI factory design. As part of the agreement, Nebius will receive early access to Nvidia's latest accelerated computing platform. The company is targeting deployment of more than 5 gigawatts of capacity by the end of 2030.

Nebius stock jumped roughly 14% on the announcement.

Jensen Huang's Vision

Nvidia CEO Jensen Huang framed the deal around the shift to agentic AI: "Nebius is building an AI cloud designed for the agentic era, fully integrated from silicon to software and powered by NVIDIA's next-generation accelerated compute. Together, we are scaling the cloud to meet the surging global demand for intelligence."

Part of a Bigger Pattern

The Nebius deal fits a clear pattern in Nvidia's strategy. Over the past few months, the chipmaker has made $2 billion investments in CoreWeave, Lumentum, and Coherent. It also contributed $30 billion to OpenAI's $110 billion funding round last month, and announced a significant investment in Mira Murati's Thinking Machines Lab just a day earlier.

Nebius is positioning itself as a full-stack AI cloud provider — hardware, networking, software — targeting AI-native companies and enterprises that need dedicated infrastructure rather than general-purpose public cloud.