Shares of Netherlands-based AI cloud company Nebius Group (NASDAQ:NBIS) rose nearly 12% on Monday after the company announced a new long-term infrastructure deal with Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB).
Under the five-year agreement, Nebius will provide $12 billion in dedicated AI computing capacity across multiple locations, using one of the first large-scale deployments of the NVIDIA Vera Rubin platform.
Deliveries are planned to begin in early 2027.
Additionally, Meta agreed to purchase more available computing capacity from Nebius, potentially totaling up to $15 billion over the same period. Nebius intends to sell this capacity to external customers through its AI cloud business, and Meta will acquire the remaining capacity.
The deal has a combined contract value of approximately $27 billion. The move marks a significant step in the collaboration between the two companies and highlights the growing demand for large-scale AI infrastructure.
“We are pleased to expand our important partnership with Meta as part of securing larger, long-term capacity contracts to accelerate the buildout and growth of our core AI cloud business,” Nebius CEO Arkady Volozh said in a statement. “We will continue to comply.”
Since its New York IPO in 2024, Nebius shares have risen more than 540%, reflecting the company’s growth in the European AI cloud market.
Meta shares rose 2.5% to about $628 on Monday.