Nebius Unveils Platform To Run Open Models, Taking On Microsoft After $19B Deal In September

• Nebius’ new platform is named Token Factory, and the company says it provides users with access to open source models in combination with its dedicated, high-capacity AI infrastructure.
• The company stated that early adopters of Nebius Token Factory are using the platform to build AI chatbots and coding copilots, document intelligence, and automated customer support, among other solutions.
• Nebius said that the Token Factory is available starting Wednesday, with users having an option to choose from 60 open-source AI models to begin with.

Nebius Group NV (NBIS) unveiled a new platform on Wednesday to run open artificial intelligence (AI) models, competing with similar offerings from Microsoft Corp. (MSFT) and Amazon.com Inc. (AMZN).

Nebius’ new platform is named Token Factory, and the company claims it provides users with access to open-source models in conjunction with its dedicated, high-capacity AI infrastructure.

“Built on Nebius’s full-stack AI infrastructure, Nebius Token Factory brings together high-performance inference, post-training and fine-grained access management into a single governed platform,” the company said in its announcement.

This comes after Nebius inked a $19.4 billion multi-year deal with Microsoft in September to deliver AI infrastructure to the latter. Under this agreement, Nebius will provide dedicated capacity to Microsoft from its new data center in Vineland, New Jersey, commencing in 2025.

Nebius shares were up more than 3% in Wednesday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory at the time of writing.

Taking On Tech Giants

The Nebius Token Factory competes with similar offerings from Microsoft and Amazon. While Microsoft has the Azure AI Foundry, Amazon has Bedrock.

In its announcement, the company stated that early adopters of Nebius Token Factory are using the platform for a wide range of use cases, from building AI chatbots and coding copilots to high-performance search, retrieval-augment generation (RAG), document intelligence, and automated customer support.

Microsoft’s Azure AI Foundry and Amazon’s Bedrock also provide access to several frontier AI models, including those from AI startups like OpenAI, Anthropic, Mistral AI, and xAI, among others.

Availability

Nebius stated that the Token Factory will be available starting Wednesday, with users having the option to choose from 60 open-source AI models initially. These models include those specifically designed for text, code, and vision.

Existing users of Nebius AI Studio will be automatically upgraded to Token Factory, the company said.

NBIS stock is up 299% year-to-date and 433% in the past 12 months.

Also See: Dow Futures Edge Lower As Investors Remain Cautious On AI Valuation Concerns: AMD, ANET, SMCI, HOOD Among Stocks To Watch

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