Nvidia said on Wednesday it will invest $2 billion in artificial intelligence ​cloud company Nebius, adding to the leading chipmaker’s growing list of ‌investments in AI firms and data center infrastructure.

A filing with the U.S. Securities and Exchange Commission (SEC) showed that Nvidia has agreed to buy shares representing a stake of around ​8.3% in Nebius at $94.94 per share. Shares in Nebius, based in ​Amsterdam but listed on Nasdaq, jumped 13.8% to $109.72 by 1623 ⁠GMT.

The world’s most valuable firm is investing heavily in the AI ecosystem ​and expanding data center infrastructure, including significant investments in companies that are often ​its customers, raising concerns about circular deals.

Nebius, an Nvidia customer, will deploy more than 5 gigawatts of data center capacity by the end of 2030, the companies said. This represents ​power equivalent to the needs of more than 4 million U.S. households.

Last ​year, Nvidia agreed to deploy at least 10 gigawatts of its systems for OpenAI and ‌later ⁠announced a $30 billion investment in the startup.

Nebius, along with Coreweave, is among the “neocloud” firms gaining prominence through high-profile deals to supply AI infrastructure to U.S. hyperscalers, including a $17 billion deal with Microsoft, and a $3 billion deal with Meta Platforms. Unlike larger cloud ​firms that serve ​a broad range ⁠of industries, neoclouds mostly focus on tech customers and offer capacity tailored for AI technology.

“Nebius is building an AI ​cloud designed for the agentic era,” Nvidia CEO Jensen Huang ​said ⁠in a statement, adding the partnership will scale the cloud firm to meet the surging global demand for intelligence.

The cloud firm reported a sharp jump in capital spending, ⁠rising ​to $2.1 billion in the December quarter from $416 million ​in the previous year, as it doubles down on capacity expansion.