Meta Platforms signed a $27 billion AI infrastructure agreement with Nebius Group. The contract spans a five-year period. This deal secures dedicated GPU capacity leveraging NVIDIA’s future Vera Rubin platform. The agreement accounts for a significant portion of Meta’s planned AI spending.
In parallel, Reuters reports Meta is planning to lay off up to 20% of its workforce. These cuts would affect approximately 16,000 employees. The company reportedly aims to fund massive AI capital expenditures through these reductions.
Meta has not officially confirmed the layoffs. Meta’s stock price rose as investors reacted to the dual-track strategy of aggressive investment and increased operational efficiency.