Nebius Group (NBUS) shares rocketed more than 40% during post-market trading on Monday after the company inked an agreement with Microsoft (NASDAQ:MSFT) to provide artificial intelligence infrastructure for $17.4B over the next five years.
The total contract value could expand to $19.4B if Microsoft decides to acquire additional capacity, according to a Form 6-K filed this afternoon with the U.S. Securities and Exchange Commission.
Under this multi-year agreement, Nebius will deliver dedicated capacity to Microsoft from its new data center in Vineland, N.J., starting later this year.
“Nebius’ core AI cloud business, serving customers from AI startups to enterprises, is performing exceptionally well,” said Nebius founder and CEO Arkady Volozh. “We have also said that, in addition to our core business, we expect to secure significant long-term committed contracts with leading AI labs and big tech companies. I’m happy to announce the first of these contracts, and I believe there are more to come. The economics of the deal are attractive in their own right, but, significantly, the deal will also help us to accelerate the growth of our AI cloud business even further in 2026 and beyond.”
Fellow AI hyperscaler Coreweave (CRWV) climbed 5% during post-market action.