European internet company Nebius Group's after-hours stock price increased by 64%, as the company reached an artificial intelligence (AI) infrastructure agreement worth up to $19.4 billion with Microsoft, which will provide GPU infrastructure capacity to Microsoft's new data center in Vineland, New Jersey, USA.
The total contract amount between the two companies is $17.4 billion until 2031, and if Microsoft purchases additional services and/or capacity, the contract amount will reach $19.4 billion

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European internet company Nebius Group's stock price rose by 64% in after-hours trading, as the company reached an artificial intelligence (AI) infrastructure agreement worth up to $19.4 billion with Microsoft. This agreement will provide GPU infrastructure capacity to Microsoft's new data center in Vineland, New Jersey, USA. The total contract amount between the two companies is $17.4 billion until 2031, and if Microsoft purchases additional services and/or capacity, the contract amount will reach $19.4 billion

Nebius Group surged over 60% after hours, as the company reached an AI infrastructure agreement worth up to $19.4 billion with Microsoft