Nebius shares jump 34% on continued AI infrastructure demand

Nebius Group NV shares closed 34% higher after the company reported second-quarter 2026 revenue of $582.3 million, a 454% year-over-year increase that beat the LSEG consensus estimate by about $10 million. The Netherlands-based AI cloud provider also signed four data center deals averaging over $1 billion each, including one with Cohere Inc., and raised its 2026 contracted power target to five gigawatts.

Nebius shares jump 34% on continued AI infrastructure demand Shares of Nebius Group NV closed 34% higher today after it reported https://nebius.com/newsroom/nebius-reports-second-quarter-2026-financial-results second quarter earnings that topped expectations across the board. The Netherlands-based company operates a cloud platform optimized for artificial intelligence workloads. It also has two business units called Avride and TripleTen that offer autonomous driving software and programming courses, respectively. Nebius’ revenue surged 454% year-over-year in the second quarter to $582.3 million. That put the company about $10 million ahead of the LSEG consensus estimate. Much of the growth was driven by large customers: Nebius disclosed that it signed four data center deals with an average value of more than $1 billion. The company inked one of the deals with Cohere Inc., a venture-backed language model developer. Nebius won the three other contracts from startup Reflection AI Inc., an unnamed neocloud operator and investment firm trading firm. Nebius earlier signed cloud deals with Meta Platforms Inc. and Microsoft Corp. that are expected to be worth up to $46.4 billion. The company is investing heavily in new data centers to address customer demand. In early March, Nebius announced plans to open a Missouri data center campus with up to 1.2 gigawatts of computing capacity. A few weeks later, it inked a deal to build a 310-megawatt site in Finland. Nebius sells not only infrastructure but also cloud services designed to speed up AI projects. It offers managed versions of PostgreSQL and MLFlow, an open-source tool for debugging LLM-powered applications. In June, Nebius launched https://nebius.com/blog/posts/ai-infrastructure-that-speaks-your-language an AI agent that automates tasks such as provisioning virtual machines. The company’s capital expenditures, a line item that covers large purchases such as data centers, jumped to $5.7 billion in the second quarter. Analysts had forecasted $4.7 billion. One of the reasons the spending boost didn’t weigh on Nebius’ stock price is that it expects to realize a return fairly soon. According to the company, its second quarter capital expenditures have a payback period of one year and 10 months. Furthermore, Nebius finances more than half its expenses with customer prepayments. Despite its growing infrastructure expenses, the company moved significantly closer to profitability in the second quarter. Nebius lost $33.2 million in the three months ended June 30, which represents a 64% year-over-year decrease. That translates to an adjusted loss of $0.12 per share, well below the $0.67 per share that analysts had expected. Nebius today boosted its 2026 contracted power target, a measure of its data center capacity, to five gigawatts. The company plans to bring more than one gigawatt of computing capacity online annually from 2027 onwards. Photo: Nebius A message from John Furrier, co-founder of SiliconANGLE: Support our mission to keep content open and free by engaging with theCUBE community. Join theCUBE’s Alumni Trust Network , where technology leaders connect, share intelligence and create opportunities. 15M+ viewers of theCUBE videos , powering conversations across AI, cloud, cybersecurity and more 11.4k+ theCUBE alumni — Connect with more than 11,400 tech and business leaders shaping the future through a unique trusted-based network. Are you AWS customer? Support SiliconANGLE Financially by buying your AWS services from our Marketplace portal page and links. 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