Group 1: AI Market Growth - Investors are focusing on artificial intelligence (AI) stocks as companies transition from training models to applying them in solving complex problems, a phase known as inference, which is expected to drive growth in the coming years [1] - Demand for capacity to support AI training and inference is surging, leading customers to choose between large cloud providers like Alphabet and smaller specialized companies [2] Group 2: Nebius Overview - Nebius offers a range of services including managed services for Kubernetes and access to GPUs and CPUs, positioning itself as a comprehensive resource for AI needs [4] - In the latest quarter, Nebius reported a revenue increase of over 300% and sold out all its capacity, highlighting strong customer demand [4] - The company secured significant deals, including a $19.4 billion infrastructure agreement with Microsoft and a $3 billion deal with Meta Platforms [4] Group 3: Investment Challenges for Nebius - Nebius faces the challenge of needing to invest heavily to meet rising demand, recently raising over $4 billion through convertible notes and equity offerings to expand its infrastructure [5] Group 4: CoreWeave Overview - CoreWeave specializes in providing access to high-powered Nvidia GPUs for AI workloads and was the first to make Nvidia's Blackwell platforms available [6] - Nvidia has a significant investment in CoreWeave, with over 85% of its portfolio allocated to this AI cloud specialist, indicating Nvidia's confidence in CoreWeave's potential [7]