Nebius stock climbed to a record high after Nvidia CEO Jensen Huang praised the cloud computing provider at COMPUTEX.

During his keynote at COMPUTEX in Taiwan, Nvidia CEO Jensen Huang called Nebius one of a select group of 'world-class AI clouds' and noted the company is 'growing incredibly fast.' He highlighted Nebius customers including Cursor, World Labs, Revolut, and Shopify.

Nebius operates data centers featuring Nvidia's graphics processing units (GPUs) along with related equipment and software. Nvidia invested $2 billion in Nebius in March as part of a strategic partnership to accelerate cloud computing infrastructure for the AI market.

Hedge fund Situational Awareness, led by former OpenAI researcher Leopold Aschenbrenner, acquired more than 12.4 million shares of Nebius stock, valued at $3.3 billion. The fund oversees a portfolio with a market value of roughly $13.7 billion as of March 31.