Welcome to Metaverse, Nebius (NASDAQ: NBIS) Sales Inks AI Deal with Meta

Nebius Sales Soar as Neocloud Provider Inks AI Deal with Meta, also generated revenue in the quarter rose 355% to $146 million.

Nebius Group has signed a deal worth about $3 billion with Meta to provide the Facebook owner with AI infrastructure over a five-year period, the company released the news on Tuesday. This comes after reporting earnings for the quarter.

The stock has been on a strong run this year, with its market value rising fourfold to $27.61 billion, through its last close. The company posted a surge in capital spending and a quarterly loss of over $100 million, widening from $39.7 million last year. The stock has been on a strong run this year, with its market value rising fourfold to $27.61 billion, through last close.