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Shares of Dutch cloud computing firm Nebius climbed sharply Monday after Meta announced a long-term agreement to spend as much as $27 billion on artificial intelligence infrastructure provided by the company over the next five years.
The deal includes $12 billion in dedicated computing capacity expected to be delivered across several global locations and built around one of the earliest large-scale deployments of Nvidia's new AI-focused Vera Rubin chips according to the companies.
Meta also committed to purchasing up to $15 billion in additional available compute capacity from Nebius during the same five-year period depending on demand for its rapidly expanding artificial intelligence services and products the companies said Monday.
News of the partnership pushed Nebius shares about 14% higher in premarket trading while Meta's stock gained roughly 3% as investors continued pouring money into companies building the infrastructure needed to power the global AI boom.
Nebius has quickly emerged as one of Europe's most prominent AI cloud infrastructure providers as technology giants race to secure computing capacity capable of training and running increasingly complex machine learning models at massive scale worldwide.
The company said the agreement will support further expansion of its data center footprint and strengthen its long-standing relationship with Meta as demand for specialized AI chips and high-performance cloud services continues to accelerate across industries globally.
Founder and chief executive Arkady Volozh said the new contract highlights Nebius' strategy of locking in large multiyear capacity agreements with major technology companies while scaling its core AI cloud business more efficiently over time.
The partnership comes amid a broader spending surge by hyperscale tech companies racing to build the massive computing infrastructure required for next-generation artificial intelligence systems and generative AI applications used by billions of people online.
Meta has said it expects AI-related capital expenditure to reach between $115 billion and $135 billion this year as part of an estimated $700 billion combined investment planned by major hyperscalers including Amazon Alphabet and Microsoft.
The announcement follows a series of funding and partnership deals across the AI infrastructure sector as investors and chip makers deepen bets on long-term demand growth.
