Nebius stock surged approximately 12% in premarket trading to around $126.47, following Meta Platforms' announcement of plans to spend up to $27 billion over the next five years to purchase AI infrastructure from the Dutch cloud company. The agreement includes $12 billion worth of dedicated infrastructure, as well as Meta's option to purchase an additional $15 billion in computing resources. Nebius Chief Executive Officer Arkady Volozh called the partnership a key milestone in the company's expansion, emphasizing the intense competition among tech giants to acquire large-scale AI computing capacity.