Nebius soars on new report that details the importance of its near $20-billion deal with MicrosoftNebius is jumping in premarket trading after a Bloomberg report that sheds more light on its near $20-billion deal to supply computing power to Microsoft. Citing people familiar with the matter, the report says that Nebius will utilize more than 100,000 of Nvidia’s flagship Blackwell chips in order to “provide computing power to internal teams creating large language models and a consumer AI assistant” for Microsoft. The so-called “neocloud” cohort, of which Nebius and CoreWeave are the most prominent in the publicly-traded space, effectively serve as overflow capacity for the AI boom. The pair have been on fire amid an all-out frenzy from hyperscalers to accumulate more computing power. Nebius’ arrangement with Microsoft will allow the tech giant to use its own compute to focus on fulfilling demand from customers.