Nebius Group Revenue Surges 454 Percent in Second Quarter

Nebius Group shares rose approximately 20 percent on Wednesday following a second-quarter revenue report of $582.3 million, marking a 454 percent increase year over year. The Amsterdam-based AI infrastructure provider saw its AI cloud revenue, which includes renting Nvidia-powered computing capacity to clients such as Microsoft Corporation, surge 514 percent to roughly $575 million.

The company reported an adjusted EBITDA of $236 million, a significant reversal from the $21 million loss recorded in the previous year. To facilitate this expansion, the company invested $5.7 billion in capital expenditures during the quarter, focusing primarily on GPUs and data-center growth.

CEO Arkady Volozh reported that the company secured four major AI cloud contracts with average values exceeding $1 billion each. While Nebius reaffirmed its 2026 outlook and anticipates over $9 billion in customer prepayments for the year, investors continue to debate the high ratio of capital spending relative to current revenue.