NEBIUS, the technology and artificial intelligence company formerly known as Yandex, witnessed a significant pre-market surge of 6.29% on Thursday. This rally can be attributed to the company securing a substantial $700 million investment from chip giant Nvidia, as part of its ambitious plans to generate $1 billion in revenue.

After severing ties with its Russia-based operations following the invasion of Ukraine, NEBIUS has been undergoing a strategic transformation. The company is now focused on expanding its AI and technology offerings globally, with a particular emphasis on areas such as autonomous driving, robotics, and generative AI. The substantial investment from Nvidia is expected to provide NEBIUS with the necessary resources and cutting-edge hardware and software solutions to drive its growth ambitions.

By leveraging Nvidia's expertise, NEBIUS aims to develop innovative products and services in its targeted areas, ultimately targeting $1 billion in revenue from its global operations. This investment is seen as a significant boost to the company's plans and has fueled investor optimism, as reflected in the pre-market stock surge.