Why it matters
The strategic read
Turns Nebius into another hyperscaler-scale external AI capacity vendor for Meta, beside CoreWeave and internal Meta campuses. The receipt ties next-generation NVIDIA Vera Rubin systems, multiyear capacity reservation economics, Nebius owned-power expansion and Meta external compute procurement into one primary-source contract, reinforcing that frontier AI companies are buying specialist cloud capacity faster than their own data centers can absorb demand.
Source-supported terms
What was disclosed
- 01
Nebius announced on March 16, 2026 that it signed a new long-term AI infrastructure supply agreement with Meta.
- 02
The agreement runs for five years.
- 03
Nebius will provide $12B of dedicated capacity across multiple locations.
- 04
Nebius said the dedicated capacity is based on one of the first large-scale deployments of NVIDIA Vera Rubin platform infrastructure.
- 05
Capacity delivery is expected to start in early 2027.
- 06
Meta also committed to purchase additional available compute capacity across certain upcoming Nebius clusters up to a total of $15B over the five-year period.
- 07
Nebius said the total contract value is up to approximately $27B.
- 08
Nebius stated that it currently intends to sell the additional capacity to third-party AI cloud customers, with remaining capacity to be purchased by Meta.
- 09
Nebius said the agreement expands its significant partnership with Meta and supports securing more large, long-term capacity contracts.
- 10
Nebius kept its 2026 guidance unchanged at announcement.
- 11
Nebius later told shareholders that the second large Meta agreement provides capital to accelerate AI cloud growth and pursue additional financing at attractive rates.
- 12
The Q1 2026 shareholder letter also disclosed Nebius contracted power already above 3.5 GW, guidance raised to more than 4 GW by year-end, two gigawatt-scale U.S. sites secured, a 1.2 GW Pennsylvania AI factory site, and Q1 fundraising of $6.3B including NVIDIA's $2B investment.
Disclosure boundary
What is known—and what is not
Primary Nebius announcement plus Nebius Q1 2026 shareholder letter. Public materials disclose the Meta counterparty, five-year term, $12B dedicated capacity tranche, additional-capacity commitment up to $15B, up-to-$27B aggregate contract value, NVIDIA Vera Rubin platform basis, early-2027 delivery target and high-level Nebius capacity/fundraising context. Public materials do not disclose site-by-site allocation, MW/GW reserved for Meta, GPU counts, Vera Rubin rack configuration, lease or cloud-pricing terms, service-level obligations, power-supply or PPA counterparties, data-center owner/operator mix, financing collateral, delivery schedule by cluster, third-party customer allocation mechanics or termination remedies.