Nebius Group Shares Surge 47% After $17.4 Billion Microsoft Agreement
Nebius Group (NBIS) shares increased by 47% in pre-market trading following a deal with Microsoft (MSFT) to supply graphic processing units (GPUs). The agreement is valued at $17.4 billion over five years, exceeding Nebius's current market capitalization of $15.29 billion. Microsoft may expand the contract value to $19.4 billion by adding services.
Other companies in AI computing also saw share increases:
- Cipher Mining (CIFR) rose by 9%
- IREN gained 9%
These movements reflect speculation around further AI infrastructure partnerships, similar to recent developments involving CoreWeave (CRWV) and TerraWulf (WULF).
Nebius specializes in Nvidia-powered GPUs, cloud services, and AI developer tools.