Nebius Group N.V. and Meta Platforms have entered into a five‑year AI infrastructure agreement worth up to $27 billion, comprising $12 billion of dedicated capacity and an additional $15 billion of on‑demand capacity. Deliveries will begin in early 2027 and will be based on one of the first large‑scale deployments of NVIDIA’s Vera Rubin platform, positioning Nebius at the forefront of next‑generation AI hardware.
The deal builds on Nebius’s recent momentum: the company closed a $3 billion contract with Meta in November 2025, and NVIDIA invested $2 billion in Nebius on March 11 2026. Nebius reported Q4 FY25 revenue of $227.7 million, up 547 % year‑over‑year, and has been posting triple‑digit growth in its AI Cloud division. The new agreement adds substantial long‑term revenue to Nebius’s backlog and reinforces its growth trajectory.
Strategically, the contract validates Nebius as a key partner for hyperscalers and strengthens its competitive moat against Amazon, Google, Microsoft, and specialized neocloud operators such as CoreWeave. The Vera Rubin deployment demonstrates Nebius’s access to cutting‑edge AI accelerators, while the five‑year commitment signals strong demand for dedicated AI compute. Because the first deliveries are scheduled for 2027, the deal’s financial impact will be felt beyond the current fiscal year, which explains why Nebius’s 2026 guidance remains unchanged.
Market reaction to the announcement was robust: Nebius shares surged 14‑15 % in pre‑market trading, and Meta shares rose about 3 %. Analysts cited the magnitude and long‑term nature of the $27 billion deal, NVIDIA’s recent investment, the Vera Rubin deployment, and the unchanged 2026 guidance—indicating confidence in Nebius’s existing growth prospects—as the primary drivers of the positive response.
Arkady Volozh, founder and CEO of Nebius, said, “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. We will continue to deliver.”
The agreement positions Nebius to reach an annualized revenue run rate of $7‑9 billion by the end of 2026, while the company plans $16‑20 billion in capital expenditures for 2026. Despite negative free cash flow from these investments, the strong backlog and high‑margin AI infrastructure business provide a solid foundation for future earnings growth.
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