Nebius Rockets 47% on $17.4B Microsoft GPU Deal; AI Mining Stocks Follow Suit
Nebius Group (NBIS) surged 47% in pre-market trading after announcing a major agreement to supply Microsoft (MSFT) with graphic processing units (GPUs) in a deal Reuters values at $17.4 billion over five years.
The contract exceeds Nebius’ current market capitalization of $15.29 billion and could grow to $19.4 billion if Microsoft expands its services capacity, Reuters reports.
Other AI infrastructure firms also gained: Cipher Mining (CIFR) and IREN (IREN) climbed 9% amid speculation of additional AI partnerships, echoing similar moves earlier this year from CoreWeave (CRWV) and TerraWulf (WULF).
Nebius delivers Nvidia-powered GPUs, cloud services, and AI developer tools using its proprietary hardware and software, supporting large-scale AI workloads.
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