Nebius Stock Surges 12% on AI Cloud Revenue Beat
Nebius Group announced its Q2 revenue at $582.3 million, surpassing the LSEG consensus of $572.75 million, leading to a 12% increase in shares during premarket trading. The revenue saw a remarkable 454% growth compared to the previous year, largely driven by AI cloud computing, which represented 98% of total revenue. The company secured four deals, each averaging over $1 billion. Adjusted EBITDA rose to $236.2 million, a significant improvement from a $21 million loss last year. Founder Arkady Volozh remarked, "Everything we set out to do this quarter, we did." For H1 2026, revenue reached $981.3 million, a 529% increase from H1 2025, while the net loss stood at $190.4 million, with capital expenditures at $5.66 billion. As of June 30, cash reserves were $8.04 billion, and shares have surged over 130% this year.
Key facts
- Q2 revenue: $582.3 million, beating consensus of $572.75 million
- Revenue up 454% year-over-year
- Adjusted EBITDA: $236.2 million vs. loss of $21 million year ago
- AI cloud business: ~98% of total revenue
- Closed four AI cloud deals with average TCV > $1 billion each
- Total contract value grew nearly fourfold from previous quarter
- About 70% of deals included upfront payments offsetting 50-60% of capex
- GAAP net loss: $190.4 million (68 cents/share); adjusted loss: 12 cents/share
- Capital spending: $5.66 billion in Q2 vs. $510.6 million year ago
- Cash: $8.04 billion as of June 30, up from $3.68 billion at end of 2025
- Shares up >130% since start of year
- Company reaffirmed full-year 2026 outlook
Entities
Institutions
- Nebius Group
- LSEG
- Reuters
- Zacks Investment Research
- Associated Press
- Nasdaq
- Avride
- TripleTen
Locations
- Amsterdam
- Netherlands
Sources
- Quartz —