Nvidia GB300 Chips Drive Cloud Deal, $30B VAST Funding and Rally
Thinking Machines Lab secured a multibillion-dollar Google Cloud deal to deploy Nvidia's GB300 GPUs for generative AI, potentially driving increased chip sales. Nvidia also participated in VAST Data's $1B funding round valuing the startup at $30B and extended gains during a tech-led market rally on April 24.
1. Cloud Partnership Boosts GB300 Demand
Thinking Machines Lab signed a multibillion-dollar deal with Google Cloud to access Nvidia's latest GB300 GPUs, placing it alongside firms like Anthropic and Meta in advanced AI infrastructure. This marks one of the first major enterprise deployments of Nvidia’s next-generation chips, underscoring robust demand for high-performance AI hardware.
2. Nvidia Backs VAST Data’s $30B Valuation
Nvidia joined a $1B funding round that lifted VAST Data’s valuation to $30B, reflecting investor confidence in AI storage software built atop its GPUs. VAST Data highlighted a Rule of 40 ratio of 228%, showcasing efficient growth and signaling expanded opportunities for GPU-accelerated data management.
3. Tech Stock Rally Extends Nvidia Gains
On April 24, the Nasdaq and S&P 500 reached record highs as chip and AI leaders like Nvidia, Microsoft and Meta outperformed. Nvidia extended its advance alongside Intel’s 23% surge post-earnings, contributing to a 4.32% jump in the Philadelphia Semiconductor Index during its 18th consecutive winning day.