Nebius Group Shares Surge 40% After Securing $17.4 Billion Microsoft GPU Deal
Summary
Nebius Group shares skyrocket 40% as the AI infrastructure provider lands a massive $17.4 billion GPU deal with Microsoft, marking the company's first major contract in what CEO expects to be a series of lucrative partnerships with tech giants.
Key Points
- Nebius Group shares surge over 40% in extended trading after securing a landmark 5-year GPU infrastructure deal with Microsoft worth $17.4 billion, potentially rising to $19.4 billion
- The Amsterdam-based AI infrastructure provider will deliver GPU-equipped services from its upcoming Vineland, New Jersey data center in multiple phases over the next two years
- CEO Arkady Volozh describes this as the first of expected significant long-term contracts with leading AI labs and big tech companies, with attractive economics that will accelerate business growth