Nebius Signs $3 Billion AI Infrastructure Deal with Meta
Second Major Contract with Big Tech After Microsoft
Nebius, an artificial intelligence (AI) cloud company, has signed a $3 billion contract with Meta, the parent company of Facebook.
Arkady Volozh, CEO of Nebius, announced in a public letter to shareholders on November 11 (local time) that the company has agreed to provide AI infrastructure of this scale to Meta over the next five years.
CEO Volozh stated that Nebius plans to build the necessary capacity to fulfill the contract over the next three months, adding, "The demand for capacity from Meta was overwhelming. The size of the contract was limited by the capacity we had available."
In its third-quarter earnings report released on the same day, Nebius posted a quarterly net loss of $104 million. However, quarterly revenue was reported at $146.1 million, up 355% from the same period last year.
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Previously, in September, Nebius also signed a $17.4 billion AI infrastructure supply contract with Microsoft. Originally launched as a cryptocurrency mining company, Nebius has since transitioned into an AI infrastructure provider and, along with CoreWeave and Iren, is referred to as a "Neo Cloud" company.
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