Key Takeaways
- Meta’s 2026 capital expenditure budget ranges from $115B to $135B, representing approximately 74% growth year-over-year
- Nebius serves as an approved cloud partner for Meta’s Nvidia GPU deployment strategy
- Combined contract value exceeds $20B with $3B from Meta and $19B+ from Microsoft
- Projected revenue growth from $530M (2025) to $3.4B (2026)
- BWS Financial maintains Buy recommendation with $130 target; Morgan Stanley at $126
Meta Platforms has revealed aggressive plans to allocate between $115 billion and $135 billion toward capital expenditure throughout 2026. The midpoint represents a dramatic 74% surge versus the previous year, with the majority earmarked for Nvidia GPU infrastructure.
The tech giant confirmed its intention to acquire “millions of Nvidia Blackwell and Rubin GPUs” while distributing them partially through Nvidia’s established cloud partner ecosystem. Nebius holds a position within this partner network.
This positioning carries significant implications. It places Nebius squarely within Meta’s capital deployment trajectory.
The company provides on-demand GPU infrastructure — featuring H100, H200, and Blackwell configurations — available through hourly rental arrangements. Clients can also execute AI model operations via their software platform using token-based pricing.
Meta represents more than speculative opportunity. The company secured a $3 billion, five-year agreement with Nebius in November 2025. As Meta accelerates infrastructure investment, this partnership appears positioned for expansion.
Over $20B in Committed Business With Tech Leaders
Additionally, Nebius maintains a five-year agreement with Microsoft valued above $19 billion. These combined commitments drive total backlog beyond $20 billion — a figure that may expand as technology spending accelerates industry-wide.
During their Q4 2025 earnings discussion, Morgan Stanley’s Josh Baer inquired about software adoption rates among compute clients. Management’s response was definitive: 100%. Every AI infrastructure customer utilizes their complete software offering.
The company’s CFO conveyed optimism regarding the 40% margin objective, noting that robust AI cloud demand would compensate for underperformance in ancillary business units.
Aggressive Scaling and Financial Projections
Wall Street analysts project Nebius will experience revenue expansion from $530 million in 2025 to approximately $3.4 billion in 2026 — representing roughly 540% growth.
Infrastructure expansion plans call for increasing from 7 data center locations in 2025 to 16 facilities by year-end 2026, while active power capacity scales from 170 megawatts to a range between 800 megawatts and 1 gigawatt.
BWS Financial reaffirmed its Buy rating on February 17, 2026 with a price objective of $130. Morgan Stanley kept its Hold stance on February 13 with a $126 valuation.
As of February 20, 2026, NBIS shares traded at $97.80, within a 52-week trading range spanning $18.31 to $141.10, supporting a market capitalization of $25 billion.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
