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Shares of Netherlands-based AI cloud firm Nebius Group (NASDAQ:NBIS) jumped practically 12% on Monday after the corporate introduced a brand new long-term infrastructure settlement with Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB).
Underneath the five-year deal, Nebius will present $12 billion in devoted AI computing capability throughout a number of areas, using one of many first large-scale deployments of the NVIDIA Vera Rubin platform.
Deliveries are scheduled to start in early 2027.
As well as, Meta has agreed to buy additional out there compute capability from Nebius, probably totaling as much as $15 billion over the identical interval. Nebius intends to promote this capability to third-party clients by its AI cloud enterprise, with any remaining capability acquired by Meta.
The settlement carries a mixed contract worth of roughly $27 billion. The transfer marks a big step within the collaboration between the 2 corporations and highlights the growing demand for large-scale AI infrastructure.
“We are happy to develop our vital partnership with Meta as a part of securing extra massive, long-term capability contracts to speed up the build-out and progress of our core AI cloud enterprise,” Nebius CEO Arkady Volozh mentioned in a press release. “We will proceed to ship.”
Since its New York itemizing in 2024, Nebius shares have risen greater than 540%, reflecting the corporate’s progress within the European AI cloud market.
Shares of Meta added 2.5% at about $628 on Monday.
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