Nebius Skyrockets 47% on Microsoft GPU Deal; AI Mining Stocks Gain
Nebius Group (NBIS) jumped 47% in pre-market trading after revealing a landmark 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 contract surpasses Nebius’ current market capitalization of $15.29 billion and could increase to $19.4 billion if Microsoft expands its services capacity.
Other AI-focused firms also saw early gains. Cipher Mining (CIFR) and IREN (IREN) each climbed 9%, fueled by speculation of additional AI infrastructure partnerships, reminiscent of earlier rallies involving CoreWeave (CRWV) and TerraWulf (WULF).
Nebius specializes in Nvidia-powered GPUs, cloud services, and AI developer tools, leveraging proprietary hardware and software to power large-scale AI applications.
