Nebius shares soar 51% in premarket on Microsoft AI deal

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Artificial intelligence infrastructure firm Nebius Group

soared in U.S. premarket trading on Tuesday, following the company’s announcement of a multi-billion-dollar deal with Microsoft

Nebius’ stock was up 51% at 10:39 a.m. London time (05:39 a.m. E.T.)

The Amsterdam-based firm announced it had struck a multi-year deal with Microsoft worth $19.4 billion to provide cloud computing power for AI workloads. Nebius, which was spun out from Russian internet giant Yandex in 2023, provides graphics processing units — or GPUs — for training AI models.