Nebius Inks AI Infrastructure Deal With Meta

(RTTNews) - Nebius Group N.V. (NBIS), an AI infrastructure company, on Tuesday announced a new agreement to deliver AI infrastructure to Facebook parent Meta Platforms Inc. (META) valued at approximately $3 billion over 5 years.

The agreement with Meta highlights the rapidly growing need for high-performance computing power essential to developing and operating advanced artificial intelligence models.

It is ?Nebius' second contract with a hyperscaler, following its $17.4 billion deal with Microsoft in September.

Third-quarter revenues rose to $146.1 million from $32.1 million last year. Net loss for the period was $119.6 million, compared to a loss of $94.2 million last year.