Meta has signed a new long-term agreement to spend up to $27 billion on Dutch cloud provider Nebius' AI infrastructure, the company announced on Monday.
Over the next five years, Nebius will provide $12 billion of dedicated capacity across a number of locations, including on what the company says will be one of the first large-scale deployments of Nvidia's latest AI-specialist Vera Rubin chips.
Meta has also committed to purchase additional available compute capacity from Nebius, worth up to a total of $15 billion over five years.
"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," Arkady Volozh, founder and CEO of Nebius, said in a statement.
Nebius' stock surged 14% in pre-market trading.
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