Meta has signed a long-term deal to spend up to $27 billion on Dutch AI cloud provider Nebius, the company announced Monday.

Over five years, Nebius will provide $12 billion in dedicated capacity, including deployments using Nvidia’s Vera Rubin AI chips, with Meta able to purchase up to $15 billion more in additional compute capacity.

Nebius, founded in 2022 and listed in New York in 2024, has seen its share price surge more than 400% since listing and 35% so far in 2026.

The company also has a $19.4 billion deal with Microsoft, highlighting its rise in the European AI cloud market, CNBC has reported.

Meta is among hyperscalers planning massive AI infrastructure spending, with projected capital expenditures of $115–135 billion this year, as competition intensifies in the AI cloud sector.