(Reuters) -Nebius Group said on Monday it will provide Microsoft with GPU infrastructure capacity, in a deal worth $17.4 billion, over a five-year term.

Shares of AI infrastructure firm Nebius rose 33% after the bell.

The demand for data centers has surged as businesses are locked in a race to develop more sophisticated generative AI technology.

(Reporting by Juby Babu in Mexico City; Editing by Alan Barona)

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