Shares in AI infrastructure provider Nebius Group rose more than 7% in Nasdaq premarket trading on Monday after a regulatory filing revealed that Nvidia holds a 9.3% stake in the company.

Nebius Group is in the spotlight Monday after a major debt financing and a new business model to scale its AI cloud platform globally.

Nebius Group (NBIS) stock jumped 7% premarket after NVIDIA disclosed a 9.3% stake in the AI cloud infrastructure provider.