Meet The Under-the-Radar Artificial Intelligence (AI) Data Center Stock That Nvidia Just Plowed Millions Into
Nvidia's latest 13F filing reveals a new ownership position for the company.
Last year, shares of a small artificial intelligence (AI) stock called SoundHound AI witnessed an unprecedented rise. While SoundHound AI's voice recognition technology is an exciting pocket of the AI realm, the main contributor to the company's outsized price movement was linked to a strategic investment by Nvidia.
Like financial institutions, companies are required to report their ownership positions in other businesses through a 13F filing. According to Nvidia's most recent 13F, the company exited its position in SoundHound AI and took a stake in a data center stock called Nebius Group (NASDAQ: NBIS).
If you're unfamiliar with Nebius, don't worry. The company is flying under the radar for a reason -- but that may not last too much longer.
