Neocloud

The company that sells every shovel in the AI gold rush just started renting shovels from someone else. And it’s paying $5.5 billion for the privilege. On May 7, Nvidia and IREN Limited announced a partnership combining a $3.4 billion cloud services contract with a $2.1 billion equity option — deploying up to 5 gigawatts of AI infrastructure using Nvidia’s DSX architecture. That’s enough power for 3.75 million homes, dedicated entirely to AI computation. ...

The AI race has a new front, and it’s not about who builds the smartest model. It’s about who controls the pipes. Meta just signed a $27 billion, five-year infrastructure deal with Nebius Group — a company that, two years ago, was busy shedding its identity as Yandex’s international arm. The deal gives Meta priority access to purpose-built GPU clusters running Nvidia’s next-generation Vera Rubin chips. And it tells us something crucial about where the AI industry is actually heading. ...

NVIDIA just wrote another $2 billion check. This time it’s going to Nebius Group, a Dutch-headquartered AI cloud company that crawled out of the wreckage of Russia’s Yandex. Nebius stock popped 16% on the news. And somewhere, a critic muttered something about circular investments. They’re not wrong. But the story is more interesting than that. What Is Nebius? Nebius isn’t your typical cloud startup. After Yandex split its international operations amid geopolitical fallout, Nebius rebranded, relocated to Amsterdam, and went all-in on AI-specific cloud infrastructure. No general-purpose computing. No email hosting. Every server optimized for one thing: running AI workloads. ...