Nebius stock surges 15% after Nvidia investment# Nebius stock surges 15% after Nvidia investmentArtificial intelligenceAuthorDiya PoddarMar 11, 2026, 14:59 PM- The company also backed Thinking Machines Lab.- Nvidia recently invested $2 billion each in Lumentum and Coherent.- Nvidia invests $2 billion in AI cloud company Nebius, sending its shares up 15%.Artificial intelligence infrastructure spending is accelerating as technology companies race to build the computing backbone required for advanced AI system ...

周三，"英伟达亲儿子"CoreWeave(CRWV.US)盘初涨超10%，报82.43美元。消息面上，3月11日，英伟 达宣布向Nebius投资20亿美元用于开发和建设人工智能数据中心，并提及此前对CoreWeave的类似投 资，强化AI基础设施需求预期。此外，3月10日，英伟达CEO黄仁勋罕见在个人署名文章中系统阐述AI 产业的发展逻辑。他称AI不只是模型或应用，而是类似电力、互联网的基础设施。他提出AI产业是"五 层蛋糕"基础设施——能源、芯片、基础设施、模型和应用，并判断全球AI基础设施建设仍处早期阶 段，目前投入仅数千亿美元，未来仍需数万亿美元级投资。 ...

Core Insights - Nebius Group (NASDAQ: NBIS) shares surged over 16% following Nvidia's (NASDAQ: NVDA) announcement of a $2 billion investment in the AI cloud company as part of a strategic partnership [1][4] - Year-to-date, Nebius stock has increased approximately 24% [1] Investment Details - Nvidia will invest $2 billion in Nebius, expressing confidence in the company's business model and engineering expertise in AI technology [4] - The partnership aims to develop and deploy hyperscale AI cloud infrastructure [4] Collaboration Focus - The collaboration will involve AI factory design, inference optimization, fleet management, and early access to Nvidia's next-generation platforms, including Rubin architecture, Vera CPUs, and BlueField storage systems [5] Capacity Deployment - Nebius plans to deploy over 5 gigawatts of Nvidia-powered computing capacity by the end of 2030 to meet the increasing demand for AI workloads [6] - Nvidia CEO Jensen Huang emphasized that Nebius is creating an AI cloud suited for the agentic era, and the partnership will enhance infrastructure to satisfy global intelligence demand [6] Strategic Alignment - This investment aligns with Nvidia's strategy to support AI cloud providers and expand data centers to boost demand for its accelerated computing hardware [7] - Nvidia has made similar $2 billion investments in photonics companies Lumentum Holdings and Coherent, as well as in AI cloud provider CoreWeave, to advance optical technologies and accelerate AI factory development [7]

Core Insights - Nvidia is currently the most valuable company in the world, driven by high demand for its expensive AI chips, resulting in significant business growth and profit margins [1] - The AI market is projected to grow at a compounded annual growth rate of 30.6% until 2033, positioning Nvidia favorably for continued rapid growth [2] - Nvidia reached a $5 trillion valuation last year and is speculated to potentially reach a $10 trillion valuation by the end of the decade, requiring a 130% increase in valuation [2][6] Group 1 - Nvidia's growth opportunities in AI are substantial, with the company experiencing a minimum quarterly growth rate of nearly 56% since the rise of AI spending [4] - Despite a growth rate of around 50% being impressive for most companies, it may cause concern for Nvidia investors due to high expectations [5] - The current valuation of Nvidia is approximately $4.4 trillion, necessitating an average annual stock increase of nearly 23% to reach $10 trillion by 2030 [6] Group 2 - Achieving a $10 trillion valuation is considered a challenging task given market conditions and Nvidia's current trading at 37 times its trailing earnings [7] - While Nvidia has the potential to reach a $10 trillion valuation due to AI opportunities, it is unlikely to occur within the next four years [8] - Nvidia remains a strong long-term investment, but expectations should be tempered due to its significant recent growth and potential challenges ahead [8]

Core Viewpoint - Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) has underperformed compared to its peers and benchmarks, leading to a recommendation of "Hold" for investors [3][17]. Fund Overview - GSLC was launched on September 17, 2015, with an NAV of approximately $14.7 billion, focusing on large-cap American-listed stocks [3][4]. - The fund employs a rules-based approach to select stocks based on four factors: Value, Momentum, Quality, and Low Volatility [4][9]. Performance Analysis - GSLC has lagged behind the SPY ETF in 2025 and early 2026, primarily due to underweighting key stocks like Alphabet (GOOG) and Eli Lilly (LLY) [7][17]. - The fund's performance has been hindered by a lack of aggressive momentum chasing, resulting in a struggle to differentiate itself from traditional passive ETFs [7][8]. Peer Comparison - GSLC has a total of 445 holdings, which is less than SPY and IVV, but it aims for a more defensive and strategic tilt through its smart beta approach [9][11]. - The fund's average daily share volume is over 360,000 shares, translating to more than $40 million, indicating sufficient liquidity for large investors [5][10]. Financial Metrics - GSLC has an expense ratio of 0.09%, comparable to SPY, but has not delivered the same level of performance, making it a challenging sell [7][17]. - The fund's Sharpe ratio is 1.24, indicating a decent risk-adjusted return, although it is slightly below the benchmark's Sharpe ratio of 1.33 [15][16]. Conclusion - While GSLC offers a viable option for U.S. large-cap exposure, its recent underperformance and missed opportunities in stock selection have led to a cautious outlook [17].

Market Overview - US stock indices showed mixed performance at the opening, with the Dow Jones down 0.16%, Nasdaq up 0.3%, and S&P 500 up 0.13% [1] - By the time of reporting, the Dow Jones had decreased by 0.67%, while the Nasdaq rose by 0.16%, and the S&P 500 fell by 0.1% [1] - A total of 1789 stocks advanced, while 3195 stocks declined [1] Notable Stock Movements - Tesla shares increased by 2.42%, closing at $408.89 [2] - Advanced Micro Devices (AMD) rose by 1.73%, closing at $206.75 [2] - Intel shares gained 1.67%, closing at $47.56 [2] - Oracle Corporation's stock surged over 14% after reporting strong quarterly results and raising its revenue forecast for fiscal year 2027, with adjusted earnings per share of $1.79 against an expectation of $1.70, and revenue of $17.19 billion, a 22% year-over-year increase [2] Chinese Stocks Performance - The Nasdaq China Golden Dragon Index fell by 0.25%, with most popular Chinese stocks declining [7] - Li Auto shares rose by 4.56%, closing at $18.57 [8] Commodity Market - Gold and silver prices experienced a pullback, with spot gold dropping to $5173.67 per ounce, down 0.32% [10] - Spot silver fell by 3.46%, trading at $85.28 per ounce [10] Inflation and Oil Prices - The US Consumer Price Index (CPI) for February rose by 2.4% year-over-year, with core CPI increasing by 2.5% [13] - WTI crude oil prices saw significant volatility, initially rising over 6% before narrowing to a 2.58% increase [13] - The G7 energy ministers expressed support for measures to address the current energy situation, including the potential use of strategic energy reserves [16]

智通财经APP获悉，周三，Nebius(NBIS.US)开盘大涨超15%，创年内新高，现报111.58美元。消息面 上，英伟达(NVDA.US)将向Nebius投资 20 亿美元，作为开发和建设人工智能数据中心战略合作伙伴关 系的一部分。Nebius在一份声明中表示，该合作伙伴关系将帮助 Nebius 到 2030 年底部署超过 5 吉瓦 (GW)的英伟达系统。这笔电力大约足以供 380 万户家庭使用。 此次合作将建立在 Nebius 现有使用英伟达基础设施的基础之上，并支持其早期采用最新一代芯片。两 家公司将共同设计、建设和管理 AI 数据中心。Nebius 表示，该合作伙伴关系将使其能够构建专为"推 理"定制的基础设施，即 AI 模型训练完成后运行服务的过程。 ...

Scintil Photonics, a French startup backed by Nvidia, on Wednesday said it has started providing laser chips to customers for testing. ...

此外，英伟达与NEBIUS达成战略合作，共同开发并部署面向AI市场的新一代超大规模云服务。英伟达 将向NEBIUS投资20亿美元，支持其在2030年底前实现超5吉瓦算力部署目标。(格隆汇) 英伟达(NVDA.US)涨1.4%，报187.4美元。消息面上，英伟达CEO黄仁勋罕见以个人名义发表长篇博 文"AI is a five layer cake"，他将AI产业架构形象地比作"五层蛋糕"：能源→芯片→基础设施→模型→应 用。黄仁勋写道："我们才刚刚开始这项建设。我们已经投入了数千亿美元。还有数万亿美元的基础设 施需要建设。" ...

股 票 研 究 股票研究 /[Table_Date] 2026.03.11 英伟达 GTC 前瞻：聚焦 Rubin 落地、Feynman 前瞻 与基础设施重构 [Table_Industry] 计算机 [Table_Invest] 评级： 增持 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 杨林(分析师) | 021-23183969 | yanglin2@gtht.com | S0880525040027 | | 杨蒙(分析师) | 021-23185700 | yangmeng@gtht.com | S0880525040072 | | 朱瑶(分析师) | 021-23187261 | zhuyao@gtht.com | S0880526010002 | 本报告导读： 本次 GTC 2026 的核心看点，不在于单一芯片参数刷新，而在于英伟达能否通过 Rubin 平台量产落地、Feynman 架构前瞻，以及光互联、供电与液冷一体化升级， 正式推动 AI 产业从"购买 GPU"迈向"部署 AI 工厂"的新阶段。 投资要点： ...