Nvidia’s Cloud Spending Soars, as It Looks Beyond Chips

Commitments more than doubled in three months earlier this year as it builds out its DGX Cloud service.

Nvidia has become the world's third-most-valuable company by selling chips to power artificial intelligence. Now it's also one of the biggest corporate buyers of cloud computing services.

Last week, Nvidia said it has committed to spend nearly $9 billion on cloud computing in the coming years, which involves spending with Amazon, Microsoft, Google and Oracle. That’s a huge jump from the $3.5 billion Nvidia said it had committed to cloud services as of January.