Nebius Group won an AI cloud-computing deal with Microsoft worth up to $19.4 billion. Nebius stock skyrocketed.
The Amsterdam-based company will provide AI computing power to the Dow Jones tech giant via a New Jersey data center, Nebius disclosed Monday night. The deal, which runs through 2031, is worth $17.4 billion-$19.4 billion.
Nebius stock vaulted 49% Tuesday, hitting a record high after pulling back in the past three weeks. Microsoft stock edged up 21 cents.
Nebius uses Nvidia chips to power its data centers. Nvidia is also a notable Nebius backer. Nvidia stock rose 1.5% on Tuesday, still below its 50-day line.
Microsoft already has a deal with CoreWeave for AI compute.
CoreWeave stock jumped 7.1%. CRWV is still 46% from its late June peak.
Like Nebius, CoreWeave uses Nvidia chips and boasts Nvidia as an investor.
CoreWeave on Tuesday launched a new ventures arm to invest in AI companies itself.
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