Money talks, Nebius to sell over $1B in computing power to Reflection AI

Nebius Group NV has agreed to sell more than $1 billion worth of computing power to Reflection AI through 2029, the companies said Tuesday.

The deal provides Reflection AI access to Nvidia Corp. GB300 AI chips. Reflection AI was launched by two former Google DeepMind researchers and develops artificial intelligence models.

Last month, Reflection AI signed a multibillion-dollar agreement with SpaceX to access the same chip model. The company is backed by Nvidia and other investors.

The Wall Street Journal reported that Reflection AI has held discussions to raise $2.5 billion at a $25 billion valuation.

Nebius, based in Amsterdam, split from Russian internet provider Yandex in 2024. The company rents AI computing capacity and has existing agreements with Microsoft Corp. and Meta Platforms Inc.