Netherlands-based data center Nebius leverages Microsoft, Meta contracts for AI expansion

Netherlands-based data center operator Nebius will leverage recent multibillion dollar contracts with Microsoft and Meta to build its business with traditional firms and emerging artificial intelligence (AI) companies that could be future tech titans, its co-founder said.

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A $17-billion deal with Microsoft in September and another $3-billion tie-up with Meta have helped propel the company’s Nasdaq-listed stock 248% higher this year, pushing its market capitalization past $25 billion.

The firm is now widening its client base— especially given fears an AI bubble is already underway.

“We are very bullish,” Roman Chernin told Reuters in an interview, adding that ebbs are natural during a technological revolution but the market for supplying companies with access to AI infrastructure could grow tenor even a hundredfold, as firms are only beginning to use AI models that are themselves undergoing rapid advances.

As a smaller player in the booming sector, the firm is preparing for harder times by developing high-margin services and long-term relationships.

“We should be ready (for when) the winter will come,” Mr. Chernin said, adding Nebius would then act as a consolidator.

EUROPE’S BIGGEST NEOCLOUD FIRM