Nebius closed a $1 billion deal with a startup founded by former Google AI developers
Shares jumped more than 4% in premarket trading
Nebius Volozh will provide AI infrastructure for the startup Reflection AI / Photo: x.com/nebiusai
Arkady Volozh, founder of cloud provider Nebius Group, has agreed to sell more than $1 billion worth of computing power to Reflection AI, an artificial intelligence model developer founded by two former researchers at Google’s DeepMind AI lab, Bloomberg reports, citing statements from the companies.
The agreement runs through 2029 and gives Reflection access to Nvidia's GB300 AI chips.
In June, Reflection signed a multibillion-dollar agreement with SpaceX to also gain access to chips of the same model.
Nebius shares rose 4.5% in premarket trading on July 14. Year-to-date, they are up 151.5%.
Context
The deal is part of the race between startups and tech giants to gain access to AI infrastructure.
Reflection is backed by Nvidia and other investors. According to the Wall Street Journal, the company is in talks to raise $2.5 billion at a valuation of $25 billion.
Nebius, which spun off from the Russian internet service provider Yandex in 2024, is part of a group of companies known as “neoclouds” that lease computing power for AI. The Amsterdam-based company has partnership agreements with Microsoft and Meta Platforms.
This article was AI-translated and verified by a human editor
