TNB Tech Minute: Nvidia Invests in Nebius to Expand AI Cloud Infrastructure

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Here's your morning TNB Tech Minute for Wednesday, March 11th. I'm Julie Chang for The Wall Street Journal. NVIDIA will invest $2 billion in Nebius Group to expand AI cloud infrastructure. Under the agreement, the companies will work together to design and deploy large AI data centers. Nebius will also gain early access to NVIDIA's latest computing technologies.

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Nebia said the partnership will help expand computing capacity across its global platform. Earlier this month, the company received approval to build a 1.2-gigawatt data center campus in Missouri.

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The deal comes as NVIDIA has been investing across the broader AI infrastructure supply chain. We exclusively report that the Justice Department is investigating Iran's use of finance to evade U.S. sanctions.

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According to company documents and people familiar with the matter, the probe follows the crypto exchange's dismantling of an internal investigation into more than $1 billion that flowed through the platform to a network funding terror groups backed by Iran. Sources say officials have contacted people with knowledge of the transactions.

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The journal couldn't determine whether the DOJ is investigating Binance itself or just its customers. A Binance spokesman said the exchange, quote, categorically did not directly transact with any sanctioned entities. The Justice Department declined to comment. Iranian authorities didn't respond to a request for comment.