Nebius CEO says AI demand ‘real and massive’ as Q3 deal prices top $25M per MW

The rising per-megawatt price for signed deals is the more telling signal than the CEO's rhetoric: it suggests AI capacity is being repriced upward as buyers compete for scarce compute, not merely that demand exists. That matters for anyone exposed to data-center buildout economics, where power and land are becoming the binding constraint. Whether the sequential climb in deal pricing reflects genuine scarcity or a short window of contract timing is the open question worth watching.