Nebius Mantsala is an operational AI data center with AI chips owned by Nebius and possibly used by Microsoft. It hosts an estimated 49k H100-equivalents of AI compute, supported by 75 MW of IT power at a capital cost of $2.8 B. In Q4 2027, we project it to rise to 226k H100-eq AI compute, 145 MW IT power and a cost of $5.5 B. We estimate that it uses Nvidia H100, Nvidia B300, and Nvidia H200 chips.

The timeline of IT power and AI compute capacity is based on satellite imagery, company disclosures, our cooling equipment power model, chip availability, and chip efficiency.

Approximately 20,000 kWh are recovered annually from the Mantsala campus which then goes back to heating around 2500 nearby homes.