Nebius shares surged after the company announced a multibillion-dollar contract to supply Microsoft with the computing power needed to run advanced artificial intelligence models.
The Amsterdam-based firm said it will provide GPU infrastructure capacity worth $17.4 billion over five years, reports Reuters.
The deal may expand to $19.4 billion if Microsoft purchases additional services.
The news sent NBIS shares flying in after-hours trading, soaring from $64.19 to as high as $102.98, an over 60% climb in a matter of hours.
Nebius specializes in providing Nvidia graphics processing units and cloud services tailored for AI developers. Its platform combines computing, storage, and management tools with proprietary hardware to let customers build, tune, and deploy models.
The company says Microsoft will gain access to dedicated GPU infrastructure from a new data center in Vineland, New Jersey, starting later this year. The facility is designed to handle the rising demand for AI workloads.
Says Nebius CEO Arkady Volozh,
“The economics of the deal are attractive in their own right, but, significantly, the deal will also help us to accelerate the growth of our AI cloud business even further in 2026 and beyond.”
The announcement highlights how hyperscale cloud providers are racing to lock in GPU supply as AI adoption accelerates. Demand has stretched Nvidia’s capacity and pushed infrastructure firms like Nebius and CoreWeave into high-profile contracts.
Microsoft is already the largest customer of CoreWeave, which struck its own multibillion-dollar agreement to supply OpenAI earlier this year, part of a wave of mega-contracts.
Rivals are also rushing to secure chips. Lambda recently signed a $1.5 billion deal with Nvidia to lease back 18,000 GPUs over four years, a move designed to bulk up its cloud capacity ahead of an IPO (initial public offering).
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