Nebius-Microsoft $17.4B Deal Sparks AI Mining Stock Rally in Pre-Market

Nebius Group shares surged 47% in pre-market trading following a $17.4 billion GPU supply agreement with Microsoft. The five-year contract exceeds the Amsterdam-based company's $15.29 billion market capitalization, with potential expansion to $19.4 billion through additional service capacity.

AI infrastructure stocks rallied broadly, with Cipher Mining and IREN both gaining 9% on partnership speculation. The MOVE mirrors earlier market reactions to CoreWeave and TerraWulf deals, underscoring growing institutional demand for AI computing resources.

Nebius specializes in Nvidia-powered GPU clusters, cloud services, and developer tools built on proprietary hardware-software stacks. The deal signals Microsoft's accelerating investment in AI infrastructure amid intensifying competition among cloud providers.