Nvidia holds strategic partnerships with various AI businesses, including CoreWeave and a neocloud provider. Since the launch of ChatGPT by OpenAI, Nvidia’s shares have surged over 900%, making it the most valuable company globally with a market cap of $4.2 trillion.

Nvidia’s partnerships and investments in CoreWeave and Nebius show its dominance in the AI landscape. Nebius, a neocloud provider, offers cloud-based infrastructure services that compete with CoreWeave and Oracle in the data center market, catering to increasing demand for chip access.

Cloud hyperscalers like Microsoft, Alphabet, and Amazon are expected to spend $260 billion on AI data centers and chip access this year. Meta Platforms’ $14.3 billion investment in Scale AI, along with the creation of Meta Superintelligence Labs, highlights the growing need for high-performance compute power in AI development.

Nebius, backed by Nvidia, is rapidly growing its AI infrastructure business, with a projected annual recurring revenue run rate of $750 million to $1 billion by year-end. Analysts are bullish on Nebius, with price targets suggesting significant upside potential compared to its competitors in the AI infrastructure market.

Read more at Yahoo Finance: Could This Monster Nvidia-Backed Artificial Intelligence (AI) Data Center Stock Be the Best Bargain in the Market Right Now?