Nebius Group N.V., a spinoff of Russian tech giant Yandex that provides computing power, signed a deal with Microsoft worth up to $19.4 billion to provide data center capacity.
- Nebius will deliver dedicated GPU infrastructure capacity to Microsoft from its new data center in New Jersey starting later this year, according to a press release and SEC filing.
- The deal, first reported by Bloomberg, lasts through 2031.
- Microsoft is spending big to help expand its cloud and AI capacity. The company said in July that it planned to invest more than $30 billion in capital expenditures in the current quarter, a record high.
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