Nebius has agreed to sell more than $1 billion of computing capacity to Reflection AI through 2029, giving the open-model developer access to Nvidia’s GB300 chips. TechCrunch characterized the agreement as a $1 billion deal; Reuters and Bloomberg described it as more than $1 billion in capacity. Every figure here comes from reporting, not from a company filing or announcement.
Nebius → Reflection AI compute agreement
- Deal size
- More than $1 billion
- Chips
- Nvidia GB300
- Second such deal
- Yes
- Reflection AI
- ~$8B valuation
Reflection was founded in 2024 by two former Google DeepMind researchers, Misha Laskin and Ioannis Antonoglou, who had worked on the PaLM and Gemini model families. The company is valued at about $8 billion and has raised roughly $2.6 billion from backers including Nvidia, Sequoia Capital and Lightspeed Venture Partners. It builds open-weight models and autonomous coding agents, positioning itself as an alternative to closed-source labs.
A second compute contract in weeks
The Nebius agreement follows a similar arrangement Reflection signed with SpaceX a few weeks earlier for access to the same class of Nvidia chips. Media reports put that deal in the multibillion-dollar range, at roughly $150 million a month running through 2029. Two multiyear supply contracts in quick succession is the notable part, not either headline number on its own.
What is not established
Nebius’s newsroom carried no announcement of the transaction at publication; its most recent release, dated July 2, is unrelated. Chip quantities, the delivery schedule and the payment structure are not public. Nebius — formerly the international arm of the Russian technology company Yandex — saw its shares rise on the reports.
The strategic signal is where compute is being locked up. A company two years old, with $2.6 billion raised, is committing to multiyear capacity from more than one supplier rather than buying as it goes. That is a bet that access, not price, is the binding constraint on training frontier-scale open models — and it pushes the risk onto whoever guessed wrong about what demand looks like in 2029.
- Nebius will sell Reflection AI $1B+ of compute through 2029, including Nvidia GB300s.
- It's Reflection's second multiyear compute deal in weeks, after SpaceX.
- Reflection: founded 2024 by ex-DeepMind researchers, ~$8B valuation, ~$2.6B raised.
- The bet: access, not price, is the binding constraint on open frontier models.
- Caveat: all figures come from reporting — no company filing, and terms aren't public.