Nebius Group N.V. (NASDAQ:NBIS) shares are up during Monday's premarket session following the announcement of a long-term artificial intelligence infrastructure agreement with Meta Platforms Inc. (NASDAQ:META).

The agreement could reach a total contract value of up to $27 billion, significantly expanding the companies' collaboration in AI cloud computing.

The five-year agreement will see Nebius supply dedicated AI compute capacity to Meta across multiple locations.

The deployment will be based on one of the first large-scale implementations of the NVIDIA Vera Rubin platform, a next-generation infrastructure designed to support advanced AI workloads.

Nebius expects to begin delivering this capacity in early 2027.

Multi-Billion Dollar Capacity Commitment

Under the agreement, Nebius will provide approximately $12 billion worth of dedicated AI infrastructure capacity to Meta over the contract period.

Arkady Volozh, founder and CEO of Nebius, said, "We are pleased to expand our significant partnership with Meta as part of securing more large, long-term capacity contracts to accelerate the build-out and growth of our core AI cloud business. We will continue to deliver."

In addition ...