Mentioned:
Meta has massive ambitions for artificial intelligence. Which is exactly why they’re just cut a new deal with Nebius Group that is worth tens of billions of dollars.
What’s happening:
- Nebius Group (NASDAQ: NBIS) and Meta (NASDAQ: META) have formed a new partnership for artificial intelligence compute capacity worth up to $27B USD
By the numbers:
- Nebius Group will deliver $12B USD of high performance computing capacity to Meta over the next 5 years
- Meta has also committed to buying more capacity from Nebius Group for artificial intelligence workloads as part of the new deal which could bring the total value of the contract to $27B USD
Why it matters:
- This is the single largest deal that Nebius Group has ever done for artificial intelligence workloads
Going deeper:
- Nvidia (NASDAQ: NVDA) just recently made major waves on Wall Street when they made a $2B USD strategic equity investment into Nebius Group and committed to giving Nebius Group preferred access to all their new GPUs and hardware as they become available
- Microsoft (NASDAQ: MSFT) also previously struck a multi billion dollar deal with Nebius Group to secure dedicated power capacity and GPU clusters at their data centre located in Vineland, New Jersey
