Meta has signed a long-term agreement to spend up to $27 billion on Dutch cloud provider Nebius’s artificial intelligence, the company said on Monday. Nebius will provide $12 billion of dedicated capacity across a number of locations, over the next five years. This includes 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.
READ: Cloud firm CoreWeave debuts venture arm to target AI innovation (
“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.
Citi said Monday it was initiating coverage of Nebius with a buy/high risk rating, which it noted was supported by a “differentiated view on AI datacenter [total addressable market] growth, margin improvement and NBIS’s capital-efficient scaling.”
Last week, Nvidia said it would invest $2 billion to buy an 8.3% stake in Nebius, which uses Nvidia chips in its data centers.
Meta’s deal with Nvidia is the latest example of U.S. tech giants’ efforts to supplement own AI data center build-outs by locking in scarce GPU and power capacity from “neocloud” providers like Nebius. AI specialists like Nebius and competitor CoreWeave mostly focus on tech customers, but aim to become major cloud service providers in their own right.
READ: Meta signs $10 billion deal with Google (
In November 2025, Nebius had signed a deal worth about $3 billion with Meta to provide it with infrastructure over a five-year period. Meanwhile, in September, Nebius announced a multi-year deal with Microsoft worth $17.4 billion to provide cloud computing power for AI workloads.
In February, Nebius reported a fourth quarter net loss of $250 million on revenue of $228 million, and said it expected revenue to hit an annualized run rate of between $7 billion and $9 billion by the end of this year, from $1.25 billion at the end of 2025. The company said on Monday that 2026 guidance remains unchanged.
Nebius was founded in 2022 after restructuring of Russian company Yandex’s operations based outside of its home market and listed in New York in 2024. Its share price rose more than 200% in 2025 and has increased by 35% so far in 2026.