Nebius Group NV (NASDAQ: NBIS) on Tuesday announced an agreement to deliver artificial intelligence (AI) compute infrastructure to Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SIX:FB), valued at about $3 billion over five years.
In September, Nebius signed a similar $19.4 billion deal with Microsoft.
Nebius noted that it is currently sold out of all available capacity, but CEO Arkady Volozh said the company plans to deploy the capacity needed to meet the service agreement over the next three months.
In a letter to shareholders, Volozh added that demand for capacity was overwhelming, and the size of the contract with Meta had to be limited to the amount of capacity that was available.
Nebius also reported its third quarter 2025 financial results on Tuesday, which showed the company's revenue rising 355% year over year to $146.1 million, as well as a 39% improvement from Q2.
The company added that it is targeting $7 billion to $9 billion in annualized run-rate revenue by the end of 2026.
Nebius Group shares slipped 5% to $104.28 in late-morning trading on Tuesday.