Nebius Group Surges 12.65% After 1.2GW AI Factory Plan Approval
Nebius Group shares surged 12.65% to $97.78 after Independence City approved a Chapter 100 incentive plan for a 400-acre, 1.2GW AI factory campus. The project is expected to create about 1,200 construction jobs, 130 permanent roles and generate $650 million in tax-equivalent payments over 20 years.
1. Independence City Approval
Independence City Council has approved a Chapter 100 industrial development incentive plan that greenlights Nebius Group’s 400-acre AI factory campus. The plan covers up to 1.2 gigawatts of power capacity and provides property tax exemptions and other incentives structured to support large-scale data center operations.
2. Projected Economic Impact
The AI campus is projected to create approximately 1,200 skilled construction positions and 130 permanent high-technology roles. Nebius Group will make $650 million in Payments in Lieu of Taxes over 20 years, while the facility will feature closed-loop cooling and noise-reduction systems to minimize environmental impact.