Wall Street Breakfast Podcast: Nebius Gets NVDA Lift

Nebius (NBIS) is up 6% in premarket action after disclosing that Nvidia (NVDA) has taken a stake in the company. The 9.3% stake includes the previously announced $2B investment by Nvidia, which represented 1.19M shares of Nebius that was disclosed on March 31, and 21.065M shares from an ordinary share purchase warrant acquired by Nvidia on March 11. Nvidia cannot exercise the warrant or sell the underlying shares until September 11, 2026. If you remember back in March we told you the $2B investment would allow the two companies to form a strategic partnership to develop and deploy the next generation of hyperscale cloud for the AI market. The Dutch AI infrastructure provider said the partnership will help it deploy more than 5 gigawatts of Nvidia systems by the end of 2030.

Samsung (SSNLF) is taking on Apple Card with its own credit card in the U.S. It’s called the Samsung Galaxy Card and is issued by Barclays (BCS) on the Visa (V) network. It will be integrated with Samsung Wallet, allowing customers to store it with other compatible cards, IDs, passes and digital keys. Customers can earn 5% cash rewards on purchases made directly with Samsung (SSNLF). Other features include 3% cash rewards on purchases made with Samsung Wallet, 2% cash rewards on various streaming services, and 1% cash rewards on all other purchases. You can submit an application starting July 22.

Cracker Barrel Old Country Store (CBRL) said on Monday it expects to achieve or exceed the high end of its revenue range and exceed its adjusted EBITDA outlook. The company also announced that it completed a sale-leaseback of 26 stores and divested its Maple Street Biscuit Company business. Cracker Barrel said the sale-leaseback generated about $77M in net proceeds, which it plans to use to reduce debt. They sold Maple Street to Biscuit Belly. The sale includes the brand and assets for 35 locations. The remaining 16 locations will close. The company expects non-cash charges of $37M to $39M and cash charges of $6M to $8M tied to the exit. Cracker Barrel acquired Maple Street in 2019 for $36M.