Overview
- Nebius agreed to provide Meta with $12 billion of AI compute and gave Meta an option to buy up to $15 billion more over five years, with deployments spread across new sites.
- Nvidia invested $2 billion in Nebius and will help the company deploy more than 5 gigawatts of Nvidia systems over the next five years.
- The company raised just over $4 billion through convertible notes to fund construction and GPU purchases, including a new data center in Finland planned for more than 300 megawatts.
- D.A. Davidson raised its Nebius price target to $200 after the Meta agreement, pointing to a backlog that includes a Microsoft contract worth up to $19.4 billion.
- Investor interest has increased alongside tight AI capacity, with S&P data showing Nebius shares up 13.8% in March and SemiAnalysis reporting roughly 40% rent hikes since October.