Nebius, a subsidiary of Nebius Group, has signed a $17.4bn deal with Microsoft for GPU services at a new data center in New Jersey. The agreement, spanning five years, includes the option for Microsoft to expand services, potentially raising the contract value to $19.4bn. If Nebius fails to meet delivery timelines, Microsoft can terminate the specific GPU service. Both parties can terminate the agreement for cause if certain conditions are not met. The contract includes standard provisions for service levels, late delivery penalties, warranties, and liabilities. The agreement will take effect once Nebius secures necessary financing.

Read more at Yahoo Finance: Nebius secures $17.4bn agreement with Microsoft