Nebius Jumps 47% on Microsoft $17.4B GPU Deal; AI Mining Stocks Rise
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 valued at $17.4 billion over five years, according to Reuters.
The deal surpasses Nebius’ current market capitalization of $15.29 billion and could expand to $19.4 billion if Microsoft increases its services capacity.
Other AI-related companies also saw early gains. Cipher Mining (CIFR) and IREN (IREN) both climbed 9% on speculation of additional AI infrastructure partnerships, reflecting market reactions to earlier agreements involving CoreWeave (CRWV) and TerraWulf (WULF).
Nebius provides Nvidia-powered GPUs, cloud services, and AI developer tools leveraging proprietary hardware and software to support large-scale AI workloads.
