Meta to Spend Up to $27 Billion on AI Infrastructure From Nebius

Meta Platforms Inc. will pay as much as $27 billion over the next five years for access to artificial intelligence infrastructure from cloud provider Nebius Group NV as it spends aggressively to compete with the industry’s top frontier models.

Nebius, a so-called neocloud that operates data centers and has a strategic partnership with Nvidia Corp., will provide Meta $12 billion of dedicated capacity starting in early 2027, the Dutch company said in a statement Monday. Meta also committed to buying as much as $15 billion in additional capacity that the cloud provider is building for third-party customers.