AI cloud firm Nebius signs $3 billion deal with Meta, posts more than four-fold rise in revenue

Core Insights - Nebius Group has signed a deal worth approximately $3 billion with Meta to provide AI infrastructure over a five-year period [1] Company Summary - The agreement with Meta signifies a substantial investment in AI infrastructure, indicating Nebius Group's growing role in the AI sector [1] - The deal reflects Meta's ongoing commitment to enhancing its AI capabilities, which may lead to increased demand for AI services in the industry [1] Financial Summary - The contract is valued at around $3 billion, highlighting the financial scale of the partnership and its potential impact on Nebius Group's revenue over the next five years [1]