Nvidia-Backed Nebius Group Soars 454% Amid AI Boom

Nvidia has invested in Nebius Group (NBIS +7.48%), one of the fastest-growing publicly traded cloud computing companies.

Nebius' growth rate isn't short-lived, with revenue growing by 454% year over year in the second quarter due to organic demand for its services.

The company's primary business is neocloud computing, specifically designed for AI workloads, and it has a strong relationship with Nvidia to obtain cutting-edge hardware.

Nebius is expected to see significant growth ahead as the AI industry continues to expand, with Wall Street analysts estimating sales will grow by 533% in 2026 and 257% in 2027.