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Nebius Secures Major Contract
Nebius Holdings (NASDAQ: NBIS) announced a $19.4 billion contract with Microsoft (NASDAQ: MSFT) on September 9, which will last until 2031. This deal is significant for Nebius, which reported $250 million in revenue over the past four quarters. The contract will grant Microsoft access to Nebius’ AI data center in New Jersey, which is equipped for handling AI workloads using GPU technology.
CoreWeave’s Rapid Growth
CoreWeave (NASDAQ: CRWV) saw its stock rise by over 7% following Nebius’ announcement. The company reported a 207% revenue increase to $1.2 billion in Q2 2025 and now boasts a backlog of $30.1 billion, spurred by contracts with clients like OpenAI and Google Cloud. CoreWeave operates 33 data centers with a current power capacity of 470 megawatts (MW) and plans to increase to 900 MW by year-end.
Market Overview
The AI data center market is projected to reach $400 billion by 2028. Microsoft reported a 35% year-over-year increase in contracted remaining performance obligations (RPO) to $368 billion, underscoring the rising demand for cloud services. CoreWeave is positioned well with its contracted capacity of 2.2 gigawatts (GW), surpassing Nebius’ expected 1 GW by the end of 2024.
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