Meta will spend up to $2.7 billion to purchase Nebius computing power.

Meta Platforms Inc. will pay up to $27 billion over the next five years to use the artificial intelligence infrastructure of cloud service provider Nebius Group NV. The company is investing heavily to compete in the cutting-edge AI model field with industry leaders. Dutch company Nebius stated on Monday that they will begin providing Meta with $12 billion worth of exclusive computing power from early 2027. Meta also commits to purchasing up to $15 billion worth of additional computing power, sourced from facilities that Nebius is constructing for third-party clients. Nebius is a "new cloud" company operating data centers and has a strategic partnership with NVIDIA. This expenditure is one of the largest contracts signed by Meta, highlighting the parent company of Instagram and Facebook's efforts to seek more computing power to support the development of AI products. Last year, Meta signed another agreement with Nebius worth $3 billion. With the expectation of explosive growth in AI services in the coming years, Meta and some of its larger tech peers are estimated to invest around $650 billion in 2026 for building data centers and purchasing other infrastructure.