Meta is paying up to $27 billion for AI cloud capacity from the Dutch company Nebius. The five-year contract is one of the largest deals Meta has ever signed for external infrastructure. Nebius will provide $12 billion in dedicated capacity, with an additional $15 billion in supplementary capacity.
Nebius, based in Amsterdam, manages data centers built for training and running AI models. The deal fits into Meta’s broader strategy to strengthen its AI position. CEO Mark Zuckerberg previously announced that Meta plans to invest up to $600 billion in U.S. infrastructure projects by 2028. For this year alone, Meta and its largest tech competitors together expect to spend around $650 billion on data centers and AI infrastructure.
The quest for computing power is leading Meta to multiple providers simultaneously. The company previously signed a $14.2 billion contract with neocloud CoreWeave for AI infrastructure through 2032. Meta has also closed billion-dollar deals with Nvidia and AMD this year and is additionally developing its own chips.
A Meta spokesperson confirmed the Nebius deal and cited “building a more resilient and flexible infrastructure” as the reason for the diversification strategy.
Nebius is growing rapidly in the shadow of major cloud players
Nebius, spun off from Russian tech giant Yandex at the end of 2024, has grown rapidly since then. Last year, the company posted revenue growth of 355 percent and had already signed a previous contract with Meta worth approximately $3 billion. Last week, Nvidia invested $2 billion in Nebius, causing its shares to rise by 16 percent, as part of a strategy to fund neoclouds that purchase its chips.
Earlier this year, Nvidia made a similar $2 billion investment in CoreWeave and also participated in a $2 billion funding round for the British neocloud Nscale.