VRT - Why Shares in This Nvidia Partner Soared This Week
2024-03-22 07:19:59 ET
Shares in data center equipment company Vertiv Holdings (NYSE: VRT) rose 10.7% in the week to Friday morning, according to data provided by S&P Global Market Intelligence . The stock is up nearly 500% over the last year and 70% in 2024 alone. Investors have warmed to the theme of investing in data center infrastructure on the back of burgeoning demand from artificial intelligence (AI) applications.
This week's move follows the news that Vertiv has become a "Solution Advisor: Consultant partner" in Nvidia 's partner network.
When asked about power delivery to its newest AI GPUs at Nvidia's GPU Technology Conference (GTC) this week, Nvidia CEO Jensen Huang said Nvidia and Vertiv engineers were "working on cooling systems" and that "Vertiv is very important in the supply chain of designing liquid cooled and otherwise data centers."
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Why Shares in This Nvidia Partner Soared This Week