Investing

The results signal that CEO Arvind Krishna's pivot to cloud is starting to pay off.

The Israeli developer has agreed to acquire the Norwegian data center operator for $850 million.

The fundraising plans would serve as a stepping stone ahead of a potential IPO, sources said.

The listed entity will own about 10 data centers from around the world, valued around $1 billion, sources said.

It will look to unlock value in infrastructure assets such as towers, satellites, cables and data centers that may involve possible sales.

Data center chip sales were up 80 percent and gaming revenue doubled in Nvidia's fiscal first quarter.

Replacing "proof of work" with "proof of stake" rids the system of the need to run miner servers to generate the currency.