04:21 AM EST, 03/04/2026 (MT Newswires) -- Nebius ( NBIS ) said Wednesday it has received city council approval for an artificial intelligence factory in Independence, Missouri, with a potential capacity of up to 1.2 gigawatts.

The multi-building campus will cover about 400 acres and is expected to create roughly 1,200 construction jobs and 130 permanent high-tech roles.

The company said it will make payments in lieu of taxes estimated to deliver more than $650 million to the city, local school districts, and other taxing jurisdictions over a term of 20 years.

Nebius ( NBIS ) shares were up 1.6% in recent premarket activity.