Meta signs deal worth up to $27 billion with Nebius for AI infrastructure

Meta has officially entered into a substantial long-term agreement with Dutch cloud provider Nebius, committing to invest up to $27 billion in AI infrastructure. This announcement was made on Monday, indicating a strategic move to bolster Meta's capabilities in artificial intelligence. Over the next five years, Nebius will deliver $12 billion worth of dedicated capacity across various locations. This includes what is expected to be one of the first large-scale implementations of Nvidia's cutting-edge AI-specialist Vera Rubin chips. In addition to this initial commitment, Meta plans to procure further compute capacity from Nebius, potentially adding up to $15 billion to the total investment over the same period. Arkady Volozh, founder and CEO of Nebius, expressed enthusiasm about the expanded partnership, stating, "We are pleased to expand our significant partnership with Meta as part of securing more large, long-term capacity contracts to accelerate the build-out and growth of our core AI cloud business." Following the announcement, Nebius' stock saw a notable increase of 14% in pre-market trading. Updates on this developing story are anticipated.