Meta Platforms signed a five-year agreement with Amsterdam-based Nebius to spend up to $27 billion on AI infrastructure.
The contract allocates an initial $12 billion for dedicated capacity beginning in early 2027.
This capacity features one of the first large-scale deployments of NVIDIA's Vera Rubin platform.
Meta committed an additional $15 billion for compute capacity from future Nebius clusters over the five-year term.
The agreement represents one of Meta's largest infrastructure contracts and expands a previous $3 billion deal.
Stock prices for both companies surged in premarket trading following the announcement.