AI Compute Deal Ledger · NBIS · Free Dataset · CC BY 4.0

Nebius: The AI Deal Record

Every Nebius deal in the ledger, with the source on every row. Binding base-term value: $17.4B. Snapshot disclosures (backlog restatements, order intake, program envelopes) are listed but never summed.

Binding value

$17.4B

1 binding deals, base terms

Binding capacity

·

contracted IT load with disclosed MW

Not binding

·

0 LOI / framework / reported

Deal by Deal

2025-09-08Binding

Nebius (Provider) · Microsoft (Buyer)

Value
approximately $17.4B
$19.4B with all options
Capacity / term
n/a · 5y
First revenue
2025

Five-year agreement for Nebius to provide Microsoft dedicated GPU infrastructure capacity at its Vineland, New Jersey site: about $17.4B through 2031, expandable to about $19.4B. Nebius shares jumped roughly 60% on the disclosure. Part of Microsoft's pattern of leasing third-party capacity (see also iren-microsoft-gb300-2025-11) rather than waiting on its own buildout.

Conditions: Total contract value subject to deployment and availability of the GPU services, delivered in tranches during 2025 and 2026 from the Vineland, New Jersey data center. Microsoft may acquire additional services and capacity, lifting the total to about $19.4B.

Part of the free AI Compute Deal Ledger by Regards of Wallstreet, licensed CC BY 4.0. Cite it, chart it, link it.