The Nebius Group, an AI infrastructure company based in Amsterdam, announced on Monday that it has reached an agreement with Meta Platforms to supply the social media leader with $12 billion in AI computing resources at various sites by 2027.

According to Nebius, the agreement states that Meta will purchase an extra $15 billion in capacity projected by Nebius over the next five years if it remains unsold to other clients, bringing the total value of the contract to as much as $27 billion.

Nvidia announced last week that it plans to invest $2 billion to acquire an 8.3percent share in Nebius, which utilizes Nvidia chips in its data centers. Shares of Nebius, listed on Nasdaq, closed at $112.50 on Friday and have gained 35percent this year, resulting in a market cap of $28.6 billion.

The agreement represents the most recent instance of American tech giants striving to enhance their AI data-center expansions by securing limited GPU and power resources from "neocloud" suppliers such as Nebius.

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Unlike large cloud firms that serve a broad range of industries, AI specialists like Nebius and US competitor CoreWeave mostly focus on tech customers, but aim to become major cloud service providers in their own ‌right.

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Nebius CEO Arkady Volozh stated that the recent Meta agreement will assist in "speeding up the development and expansion of our fundamental AI cloud operations."

In November, Nebius reached a preliminary agreement worth $3 billion with Meta and a $17.4 billion agreement with Microsoft in September.

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In February, the rapidly expanding Nebius announced a fourth quarter net loss of $250 million on revenues of $228 million, stating it anticipated revenue to reach an annualized run rate of $7 billion to $9 billion by year-end, up from $1.25 billion at the conclusion of 2025.