Nebius Stock Is Up Over 200% This Year, but Its $3 Billion Meta Deal Still Changes Everything

Nebius Group (NASDAQ: NBIS) stock was down 7% today on exceptionally heavy volume after the data center infrastructure company reported third-quarter earnings on Nov. 11. Revenues were 355%, but the company reported wider losses than last year because of increased spending to ramp up its data centers and outfit them with high-powered graphics processing units (GPUs) capable of training and running platforms powered by AI (artificial intelligence).However, the company also announced a new deal to provide $3 billion worth of AI infrastructure over five years to Meta Platforms (NASDAQ: META), which has been investing heavily to ramp up its own AI infrastructure, including its Llama large language model, AI-based advertising products, and customer-facing AI features such as Meta AI.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool