Nvidia Stock Forecast: NVDA Targets Record-High After New $2 Billion AI Deal
Firmus, an Nvidia-backed artificial intelligence (AI) infrastructure firm, raised $2 billion in a fully subscribed equity round, lifting its valuation above $10.5 billion. The round closed as NVIDIA (NVDA) shares traded within about $13 of their all-time high.
The raise is the latest in a string of multibillion-dollar commitments tied to Nvidia's ecosystem. For NVDA bulls, it signals that heavy AI spending remains intact ahead of the August 26 earnings report.
Nvidia Doubles Down on Firmus' AI Infrastructure Buildout
Nvidia and Coatue Management returned as follow-on investors in the round. Blackstone-managed funds and trading firm Jane Street joined for the first time, Firmus said in a statement.
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