Reflection AI inks $1 billion compute deal with Nebius for open-source AI model development

Reflection inks $1B compute deal with Nebius

Reflection AI, a U.S. startup vying to develop open models, has signed a $1 billion compute deal with European AI infrastructure company, Nebius. Nebius, formerly the international arm of Russian tech giant Yandex, will provide Reflection access to Nvidia's latest chips. The deal comes just a few weeks after the startup signed a similar deal to access SpaceX's computing resources, and mirrors several partnerships by AI firms as they race to secure compute for training and deploying their models. Along with its increasingly capable Chinese counterparts, Reflection is one of several open-weight AI model developers that have received ample attention lately as debate rages over the value of top-shelf, closed-source AI models -- especially with data retention concerns surging up, as well as government intervention. Just last month, the Trump administration pressured Anthropic and OpenAI to restrict their most powerful new models, raising concerns that access to AI models could be taken away overnight. That, plus the release of more capable open models from China, has led to an increase in mainstream interest in open source AI. Reflection, currently valued at $8 billion, was founded in 2024 by two former Google DeepMind researchers. It has already raised close to $2.6 billion in funding from backers including Nvidia, Sequoia Capital, and Lightspeed Venture Partners. Shortly after securing a $2 billion investment from Nvidia, Nebius signed a five-year infrastructure deal with Meta worth up to $27 billion. Last year, Nebius signed a multi-year deal with Microsoft worth up to $19.4 billion. TechCrunch has reached out to Reflection and Nebius for more information.

AI startup Reflection signs over $1 billion computing deal with Nebius

July 14 (Reuters) - AI startup Reflection said on Tuesday it has signed a more than $1 billion deal to secure computing capacity from Nebius (NBIS.O), opens new tab, including access to Nvidia's latest chips. The move builds on Reflection's June agreement with SpaceX for computing capacity, a deal that media reports said would see the startup pay about $150 million a month through 2029. AI ⁠startups are racing to lock in the computing power needed to train and run their models as demand growth from businesses adopting the technology outpaces new data-center supply. Reflection, launched by two former Google DeepMind researchers, develops open-source models that serve as an alternative to the offerings from OpenAI and Anthropic. Open-source models, typically ⁠easier to customize and cheaper to run than closed-weight rivals, have drawn growing interest as rising AI bills push businesses to cut costs. Last month's U.S. curbs on ⁠Anthropic's advanced models also exposed the risks of relying on providers that can be cut off overnight. "The need for ⁠open models is clear, and this additional compute capacity will allow Reflection to continue to build ⁠and train frontier AI models at scale," said Reflection's chief technology officer and co-founder, Ioannis Antonoglou. Reporting by Aditya Soni in Bengaluru; Editing by Shilpi Majumdar Our Standards: The Thomson Reuters Trust Principles., opens new tab

Why Is Nebius Stock Gaining Friday? - Nebius Group (NASDAQ:NBIS)

Nebius Raises $775 Million Without Dilution to Speed AI Cloud Expansion Nebius on Friday announced its first senior secured debt financing, raising about $775 million to accelerate the global expansion of its artificial intelligence cloud infrastructure. The stock's gains stood out as investors broadly rotated away from high-growth technology names, suggesting company-specific buying interest. Debt Financing Supports AI Expansion The facility is backed by deployed GPU infrastructure and contracted cash flows from an agreement with an investment-grade customer. It matures on Oct. 31, 2030, and carries an interest rate of SOFR plus 2.50%. Nebius said the proceeds will fund the continued build-out of its full-stack AI cloud platform. Together with cash flows from the customer agreement, the financing covers more than 100% of the capital expenditure required to deploy the underlying GPU infrastructure. Because the customer contract has entered its servicing phase, Nebius said it can now redirect the financing toward expanding capacity for AI-native and enterprise customers using its platform. Financing Framework Targets Future Growth The company said the transaction converts an operational infrastructure asset into growth capital while establishing a repeatable framework for asset-level financing tied to other long-term customer deployments. The company recently delivered its latest planned capacity tranche to Microsoft and said it remains on schedule to complete the remaining deliveries under the contract. The company added that the funding strategy aligns with its goal of building a sustainable, profitable business through disciplined financing and a strong balance sheet. Technical Picture Remains Mixed Nebius is attempting to stabilize after pulling back from its June highs. The stock is trading 1.3% above its 100-day simple moving average of $174.76 and 28.5% above its 200-day SMA of $137.85, indicating the longer-term uptrend remains intact. However, shares remain well below shorter-term trend levels. The stock is 22.9% below its 20-day SMA of $229.85 and 21.2% below its 50-day SMA of $224.80. The moving average convergence divergence (MACD) indicator remains below its signal line, while the histogram is negative. That suggests bearish momentum has not fully faded despite Friday's rebound. Traders are watching resistance near the 50-day SMA at $224.80. Initial support sits around the 100-day SMA at $174.76. Earnings And Analyst Outlook Wall Street expects Nebius to report second-quarter results on Aug. 6, 2026. Analysts forecast a loss of 73 cents per share on revenue of $576.67 million, compared with revenue of $105.10 million a year earlier. The stock carries a consensus Buy rating from 17 analysts, with an average price forecast of $213.89. Recent research includes a Buy rating from Bank of America with a $280 price forecast, a Neutral initiation from BNP Paribas with a $255 forecast and a Neutral rating from DA Davidson with a $250 forecast. According to Benzinga Edge, Nebius scores highly on momentum with a rating of 97.64, while its value score of 5.28 reflects its premium valuation. Price Action NBIS Stock Price Activity: Nebius Group shares were up 2.89% at $176.73 at the time of publication on Friday, according to Benzinga Pro data. Image via Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

Nebius lands $1 billion AI deal as one major risk looms

Nebius Group's latest $1 billion artificial intelligence contract suggests customer demand is not the company's biggest problem. Paying to build the capacity may be. AI startup Reflection said on July 14 that it had signed a deal worth more than $1 billion to secure computing capacity from Nebius (NBIS), including access to Nvidia's (NVDA) latest chips. Nebius shares rose about 4% to $201.81 in midday trading July 15. The stock climbed as high as $203.25 during the session after closing at $194.09 the previous day. Reflection, founded by two former Google DeepMind researchers, develops open-source models positioned as alternatives to systems from OpenAI and Anthropic. We typically see several customers competing for every GPU we bring online. The agreement adds to the evidence that demand for Nebius' computing capacity remains strong. It also raises questions about how the company will finance the data centers and hardware needed to fulfill its growing backlog. Nebius' latest deal adds to evidence of strong AI demand AI developers are racing to lock in the computing power needed to train and operate increasingly sophisticated models as demand growth outpaces new data-center supply. That imbalance has benefited Nebius, an Amsterdam-based AI cloud provider that supplies Nvidia graphics processing units and computing platforms to developers. Nebius' first-quarter revenue nearly octupled from a year earlier, driven primarily by its core AI cloud business. The company said growth came from adding capacity while maintaining strong pricing and utilization. Its customer base already includes Microsoft (MSFT) and Meta Platforms (META). Nebius signed a five-year agreement to provide Meta with as much as $27 billion in computing capacity. The company also said its contracted capacity had exceeded 3.5 gigawatts, prompting it to raise its year-end target to more than 4 gigawatts. Nebius' growth plan comes with a $25 billion price tag Nebius spent about $2.5 billion on capital expenditures during the first quarter, compared with $544 million a year earlier. The spending was primarily driven by purchases of GPUs, related hardware, and data-center expansion. The company raised its full-year capital expenditure forecast to between $20 billion and $25 billion, from its previous estimate of $16 billion to $20 billion. Nebius ended the first quarter with $9.3 billion in cash after raising $6.3 billion, including a $2 billion equity investment from Nvidia and $4.3 billion from convertible securities. But management has indicated that additional financing will be needed. Nebius is pursuing asset-backed financing and corporate debt and said it plans to raise a mid-single-digit number of billions of dollars through those options in the near term. The company is also seeking more upfront payments from customers to reduce its reliance on debt and equity. It has not used its at-the-market stock-sale program but continues to evaluate that option. Additional borrowing would increase Nebius' financial obligations, while future stock sales could dilute existing shareholders. Key numbers behind Nebius' growth story * More than $1 billion: Value of the Reflection computing agreement * $399 million: Nebius' first-quarter group revenue * 684%: First-quarter year-over-year revenue growth * $389.7 million: First-quarter AI cloud revenue * 841%: AI cloud year-over-year revenue growth * $20 billion to $25 billion: Nebius' expected 2026 capital expenditures Nebius bulls and bears split over the cost of growth Seeking Alpha contributor James Foord upgraded Nebius to strong buy on July 15, arguing that its fundamentals and AI demand remain strong. Foord said Nebius' growing use of partner-backed data-center projects could help it expand internationally without placing the full cost of every facility on its balance sheet. He disclosed a beneficial long position in Nebius. Cavenagh Research reached the opposite conclusion in a July 6 Seeking Alpha article, rating Nebius a sell. The contributor acknowledged that the company benefits from the current shortage of AI infrastructure but argued that its capital intensity, potential shareholder dilution and uncertain long-term economics could weigh on returns. Cavenagh Research also warned that falling AI-computing prices could eventually pressure margins as more capacity enters the market. The author disclosed no position in Nebius. Yuichiro Chino / Getty Images The Reflection deal gives Nebius another major customer. Investors will now be watching whether the company can bring the required capacity online without relying too heavily on additional debt or share issuance. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 16, 2026 at 5:37 PM.

Nvidia discloses 9.3% stake in neocloud computing firm Nebius By Investing.com

Investing.com-- Nvidia on Monday disclosed a 9.3% stake in neocloud computing firm Nebius after the artificial intelligence major announced a $2 billion investment in the firm earlier this year. NVIDIA disclosed a 9.3% stake in Nebius -- comprising roughly 22.26 million shares, including shares from a warrant obtained as part of its $2 billion investment, a filing showed on Monday. Nvidia is currently prohibited from exercising its warrant prior to September 11, the filing showed. Nebius shares rose 3% in aftermarket trade. Get more breaking news on the biggest AI firms by subscribing to InvestingPro-- now at 60% off Nebius is an AI-focused cloud infrastructure company based in Amsterdam, and was spun off from search engine firm Yandex. The company has targeted building more than 5 gigawatts of computing capacity by end-2030, and had earlier this year signed a partnership with Nvidia. Nvidia's investment in the company is one amongst its many holdings in the AI ecosystem and data center infrastructure, as the world's most valuable firm pushes for more AI adoption. Nebius is also a customer of Nvidia. The company, along with Coreweave, is among the so-called "neocloud" firms- a group of fast-growing data center companies with high-profile deals to specifically power AI infrastructure.

Nebius Group stock price target raised to $410 by Northland on market share outlook By Investing.com

Investing.com - Northland raised its price target on Nebius Group (NASDAQ:NBIS) to $410 from an undisclosed prior level while maintaining an Outperform rating on the shares. The target represents a 122% upside from the current price of $184.32, though the stock has pulled back 15.6% over the past week despite delivering a remarkable 237% return over the last year, according to InvestingPro data. The company's beta of 1.4 closely aligns with Northland's 1.3 risk assumption. The firm now values Nebius similarly to CRWV following recent announcements from the company. Northland's discounted cash flow-based price target reflects an expectation that Nebius can achieve approximately 14% market share of an anticipated $800 billion AIaaS market over the forecast period. The firm applies a beta of 1.3 for its weighted average cost of capital calculation, matching the risk profile it assigns to CRWV. Northland models a terminal period free cash flow margin estimate of 30% for Nebius, similar to its CRWV model but below the 40%-plus free cash flow margins it calculates for hyperscalers. The $410 price target includes approximately $29 per share of value attributed to Nebius' non-core AIaaS businesses. Northland cited the demonstration of a scalable non-dilutive business model and the introduction of an asset-light business model as factors in its valuation. For deeper insights, InvestingPro offers a comprehensive Pro Research Report on Nebius, one of 1,400+ US equities covered, along with 18 additional ProTips for investors. The analyst noted that CRWV demonstrated a scalable non-dilutive business model with DDTL 1.0 in July 2023. Northland expects the asset-light model will enable Nebius to bring incremental power to market relative to its levered financial capacity. In other recent news, Nebius Group has secured a $775 million debt facility aimed at accelerating the development of its AI cloud platform. This facility, backed by deployed GPU infrastructure and contracted cash flows from an investment-grade customer, is set to mature on October 31, 2030. Additionally, Nebius has entered into a significant agreement to sell over $1 billion in computing power to Reflection AI, which will extend through 2029. In a strategic move to expand its AI cloud platform, Nebius has also introduced a new business model that relies on infrastructure partnerships. This model allows partners to finance, own, and operate AI data centers while Nebius provides the necessary systems architecture and software stack. Furthermore, Freedom Capital recently upgraded Nebius stock to "Buy" from "Hold," raising its price target to $200 from $159. These developments reflect Nebius Group's ongoing efforts to enhance its position in the AI cloud market. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Nebius Gets $775 Million Debt Facility to Expand Cloud Network

Nebius Group NV is a Netherlands-based infrastructure company operating in the technology industry. The Company is engaged in developing a portfolio of artificial intelligence-related technology assets. It is involved in creating an artificial intelligence-centric player to integrate the essential elements of artificial intelligence development with infrastructure, data and advisory globally. It offers products and services such as a cloud platform for artificial intelligence-related workloads, development team services for autonomous vehicles, development of generative artificial intelligence. Nebius builds full-stack infrastructure to service the growth of the global AI industry, including GPU clusters, cloud platforms and tools and services for developers. Company is developing three other businesses that operate under their own brands: Toloka AI, TripleTen and Avride.

Why is Nebius stock rallying today? By Investing.com

Investing.com -- Nebius Group NV stock rose 4.6% in morning trading after the company announced it had closed its inaugural senior secured debt facility of approximately $775 million, designed to accelerate the global buildout of its AI cloud platform. The deal, announced on July 17, represents Nebius's first foray into secured debt financing to support its infrastructure expansion. Under the structure, the facility is backed by deployed GPU infrastructure and contracted cash flows from an investment-grade customer, with partners providing funding while Nebius delivers the architecture, software, and ongoing operations. The debt raise carries particular weight given the context of the prior session. Shares had finished at $171.77 on Thursday, falling nearly 13.9%, and had dropped over 20% across five sessions after the company's asset-light partnership model announcement sparked questions about how it would finance its ambitious spending plans. Nebius had previously indicated it was pursuing asset-backed financing and corporate debt, planning to raise a mid-single-digit number of billions of dollars through those options in the near term, and today's announcement represents the first concrete step in that direction. A Seeking Alpha contributor also upgraded Nebius to strong buy on July 15, arguing that its fundamentals and AI demand remain strong, adding a layer of analyst support heading into today's session. The broader market environment offered little help, with the Nasdaq falling 1.1% and the S&P 500 declining 0.7%, making Nebius's gain a clear case of company-specific momentum overriding macro headwinds. The stock had already risen nearly 175% year to date in 2026, alongside rapid AI-focused cloud expansion and contracts with large hyperscalers such as Microsoft and Meta Platforms, but the recent pullback had erased a significant portion of those gains. Neocloud peers such as CoreWeave and IREN, which had also suffered during the prior week's selloff, provided a read-across environment for the sector's recovery attempt. Today's move reflects the market's relief that Nebius is actively closing the gap between its capital expenditure obligations and its available financing. Upcoming developments are expected to come from further partner announcements or financing updates, with investors focused on funded megawatts, the timing of cash flows, and fee structures -- all of which the $775 million facility begins to address. The combination of a concrete financing milestone, a still-robust demand backdrop anchored by the recent Reflection AI deal, and a technically oversold stock created the conditions for today's sharp rebound. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Nebius Reportedly Selling Over $1 Billion Worth of Computing Power to Reflection AI

Nebius Group NV is a Netherlands-based infrastructure company operating in the technology industry. The Company is engaged in developing a portfolio of artificial intelligence-related technology assets. It is involved in creating an artificial intelligence-centric player to integrate the essential elements of artificial intelligence development with infrastructure, data and advisory globally. It offers products and services such as a cloud platform for artificial intelligence-related workloads, development team services for autonomous vehicles, development of generative artificial intelligence. Nebius builds full-stack infrastructure to service the growth of the global AI industry, including GPU clusters, cloud platforms and tools and services for developers. Company is developing three other businesses that operate under their own brands: Toloka AI, TripleTen and Avride.

Nebius secures $775 million debt facility for AI cloud expansion By Investing.com

AMSTERDAM - Nebius Group N.V. (NASDAQ:NBIS) announced today it has entered into a senior secured debt facility for approximately $775 million to accelerate the build-out of its AI cloud platform. The financing comes as the company, valued at $44 billion, trades at $171.77 per share following a 21.8% decline over the past week, though the stock has delivered a 220% return over the past year. The facility is backed by deployed GPU infrastructure and contracted cash flows from an agreement with an investment-grade customer, according to a press release statement. The debt matures on October 31, 2030, and is priced at SOFR plus 2.50%. The company said the facility, combined with cash flows under the customer agreement, covers more than 100% of the capital expenditure required to deploy the underlying GPU infrastructure. Nebius intends to use the proceeds to invest in capacity for AI-native and enterprise customers on its cloud platform. The transaction was significantly oversubscribed. MUFG served as Structuring Agent, Sole Bookrunner, and Underwriter. MUFG, ABN AMRO Bank N.V., Bank of America, Deutsche Bank and HSBC acted as Mandated Lead Arrangers. Citi, Crédit Agricole CIB, ING, and Morgan Stanley served as Senior Lead Arrangers, with Goldman Sachs also participating in the syndicate. Nebius stated the financing provides a framework to secure asset-level financing on other long-term customer deployments. The company said it has more than $40 billion of additional contracted revenue from investment-grade customers including Microsoft and Meta. The company reported revenue of $877.9 million with 575% growth in the last twelve months and a robust 72% gross profit margin. According to InvestingPro, analysts anticipate continued sales growth this year, and the platform reveals that liquid assets exceed short-term obligations with a current ratio of 8.33. Investors seeking deeper insights can access comprehensive analysis through InvestingPro's Pro Research Report, available for NBIS and over 1,400 US equities. Ophir Nave, Chief Operating Officer of Nebius, said the financing reinforces the company's approach "from owned data centers to asset-light partnerships." Nebius recently delivered the latest planned capacity tranche to Microsoft and said it remains on track to deliver remaining tranches consistent with the contracted schedule. The company is listed on Nasdaq and headquartered in Amsterdam. Nebius Group also includes Avride, TripleTen, and owns equity stakes in companies including ClickHouse and Toloka. In other recent news, Nebius Group has announced a significant agreement to sell over $1 billion in computing power to Reflection AI through 2029. This deal will provide Reflection AI with access to Nvidia Corp. GB300 AI chips, enhancing its ability to develop artificial intelligence models. Additionally, Nebius has introduced a new business model aimed at expanding its AI cloud platform globally. The model allows infrastructure partners to finance, own, and operate AI data centers while Nebius supplies its systems architecture, software, and customer connections. In another development, Nebius shares experienced a decline following reports that Meta Platforms is planning to enter the cloud computing business, potentially increasing competition in the market. Meta's move to sell AI computing power could position it against established players like Amazon Web Services, Microsoft Azure, and Google Cloud, as well as competitors like Nebius and CoreWeave. The announcement of Meta's plans led to a notable drop in Nebius shares, reflecting investor concerns about increased competition in the AI cloud space. These recent developments highlight significant shifts and challenges in the AI cloud market, impacting various stakeholders. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Why is Nebius stock tumbling today? By Investing.com

Investing.com -- Shares of Nebius fell 11.4% in mid-day trading, reversing course just one session after the stock rallied on the company's unveiling of a new asset-light partnership model and a landmark $1 billion-plus AI compute deal with Reflection AI through 2029. The market's reaction today reflects a classic "sell the news" dynamic, with investors who bought into yesterday's catalysts quickly unwinding positions as the stock failed to hold above the psychologically important $190 level at the open. A key pressure point is the growing investor scrutiny over whether Nebius's aggressive capital spending can translate into durable returns. The company raised its 2026 capital expenditure guidance to between $20 billion and $25 billion, with much of the new capacity not expected to generate meaningful revenue until the first half of 2027, and the market is increasingly demanding clearer evidence of cash conversion rather than simply a larger contract backlog. Adding to the negative sentiment, regulatory filings have shown heavy insider selling in recent weeks, with the CEO, CTO, and Chief Infrastructure Officer collectively offloading tens of millions of dollars in shares -- a pattern that has accumulated to more than $140 million in insider sales over the past 90 days. The broader competitive landscape continues to weigh on the entire neocloud sector. Since early July, reports that Meta Platforms plans to monetize excess AI computing capacity through its own cloud business have repeatedly triggered selloffs in Nebius and peer CoreWeave, with each attempted recovery meeting fresh selling pressure. Today, the Nasdaq is down 0.6%, providing a modestly unfavorable backdrop for high-multiple growth names, while the S&P 500 is essentially flat and the Dow is slightly positive, confirming that the pain is concentrated in the technology sector. Taken together, today's decline reflects a confluence of forces: a "sell the news" reversal of yesterday's gains, unresolved concerns about the economics of Nebius's capital-intensive model, sustained competitive anxiety around Meta's cloud ambitions, and a steady drumbeat of insider selling -- all pressing on a stock that, even after this pullback, trades at a significant premium to its neocloud peers and remains well off its 52-week low of $49. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Nebius launches asset-light model for AI cloud expansion By Investing.com

AMSTERDAM - Nebius Group (NASDAQ:NBIS) announced today a business model allowing infrastructure partners to deploy its AI cloud platform in partner-owned data centers. Under the arrangement, partners finance, own and operate the data center infrastructure and hardware. Nebius provides its systems architecture, supply-chain access, hardware design, software stack and customer connections through its sales organization, according to a press release statement. The model enables data center developers, infrastructure investors and regional operators to access the AI cloud market while Nebius expands available capacity with reduced capital requirements. The capital-light approach comes as the company posted revenue growth of 575% over the last twelve months, reaching $877.9 million, with a market capitalization of $49.7 billion. According to InvestingPro data, analysts anticipate continued sales growth in the current year, with 2 analysts recently revising their earnings estimates upward for the upcoming period. Partner facilities will join Nebius's capacity pool alongside the company's owned data centers and colocations. "Our new asset-light model gives infrastructure partners a flexible way to benefit from the explosive growth of AI," said Arkady Volozh, founder and CEO of Nebius. "We're inviting data center investors, regional partners and others with capacity or capital to contribute to join us in serving this demand." Nebius said it anticipates various economic arrangements including revenue-sharing agreements, licensing fees, commissions and committed capacity arrangements. The company stated it has entered into initial arrangements under the model. Partners receive infrastructure designed to Nebius standards and market access through the company's customer base. Nebius equips partner teams to operate sites and remains responsible for cloud software and service levels, while partners manage facilities and hardware. The company said customers will receive the same service standard whether running on Nebius or partner infrastructure. The model adds capacity for Nebius customers including AI companies and enterprises. Nebius is headquartered in Amsterdam and operates an AI cloud platform for developers and companies building AI products and services. The company's shares have surged 263% over the past year, with a year-to-date return of 132%, reflecting strong investor confidence in its AI infrastructure strategy. With a current ratio of 8.33 and gross profit margins of 72%, Nebius maintains solid financial flexibility to support its expansion plans. For deeper insights into Nebius's financial health and growth trajectory, InvestingPro offers access to 15+ additional ProTips and comprehensive metrics, including detailed Pro Research Reports available for over 1,400 US equities. In other recent news, Nebius Group NV has agreed to a significant deal to sell over $1 billion in computing power to Reflection AI through 2029, granting the latter access to Nvidia Corp. GB300 AI chips. This development comes as Nebius releases AI Cloud 3.6, featuring an AI agent for natural language infrastructure control and enhanced security measures. Additionally, Nebius has selected Komodor's platform to improve Kubernetes troubleshooting across its AI cloud environment. Meanwhile, a Bloomberg report indicates that Meta Platforms is planning to enter the cloud infrastructure market, potentially competing with Nebius and other cloud service providers like Amazon Web Services and Microsoft Azure. This news has affected Nebius and CoreWeave shares, which fell following the report. These recent developments highlight the dynamic and competitive landscape in the AI and cloud computing sectors. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Nebius to sell over $1B in computing power to Reflection AI By Investing.com

Investing.com -- 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.. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.