Nebius Group NV has committed to provide more than $1 billion of computing power to Reflection AI over the period through 2029, the two companies announced on Tuesday. Under the terms disclosed, Reflection AI will receive access to Nvidia Corp. GB300 AI chips as part of the multi-year arrangement.
Reflection AI, a venture founded by two former researchers from Google DeepMind, focuses on developing artificial intelligence models. The company has been actively securing compute capacity: last month it reached a separate multibillion-dollar agreement with SpaceX to access the same GB300 chip model, according to the companies' statements. Reflection AI is also backed by Nvidia and other investors.
Media reports have indicated that Reflection AI has held discussions about a potential fundraising round valued at about $2.5 billion at a $25 billion valuation. Those reports characterize the talks as discussions rather than completed financing.
Nebius is based in Amsterdam and underwent a corporate separation from Russian internet provider Yandex in 2024. The company operates in the market for rented AI computing capacity and lists existing agreements with major technology firms, including Microsoft Corp. and Meta Platforms Inc.
Context and implications
The deal secures a substantial block of compute resources for Reflection AI as it continues model development. It also further positions Nebius as a supplier of large-scale AI compute, complementing its current relationships with other major cloud and technology customers.
- Compute access: Reflection AI will receive GB300 chip access from Nebius as part of the agreement.
- Company backgrounds: Reflection AI was launched by two former Google DeepMind researchers and is backed by Nvidia and other investors; Nebius split from Yandex in 2024 and rents AI compute capacity.
- Prior arrangements: Reflection AI recently signed a multibillion-dollar deal with SpaceX for the same chip model, and Nebius maintains agreements with Microsoft and Meta.
Note on reported fundraising
Coverage has reported that Reflection AI has been in discussions about raising $2.5 billion at a $25 billion valuation. The article describes these as discussions reported by a media outlet, not as finalized financing.
This report contains the facts disclosed by the companies and described in media accounts. Where details were limited in the disclosures - for example, precise financing outcomes or operational specifics beyond the chip access and time frame - those limitations are reflected rather than expanded upon.