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Nebius tops Q2 revenue estimates as AI infrastructure demand boosts pricing
The Amsterdam-based AI infrastructure provider posted $582.3 million in Q2 revenue, beat analyst estimates, and said it secured four AI cloud deals with average contract values above $1 billion.
Nebius Group reported second-quarter revenue that topped analysts' expectations, citing booming demand for AI infrastructure and cloud services. Reuters said the Amsterdam-based firm posted total revenue of $582.3 million for the quarter ended June, versus the analysts' average estimate of $572.75 million, and its shares rose 12% in premarket trading.
Revenue at Nebius' core AI cloud business, which accounts for about 98% of group sales, grew more than 500% year over year. The company also said demand for AI computing capacity continued to accelerate as it won larger and more profitable customer contracts.
Nebius closed four AI cloud deals during the quarter, each with an average total contract value of more than $1 billion. Reuters added that total contract value grew nearly fourfold from the previous quarter, while pricing strengthened, supported by demand for next-generation AI chips and higher rates for older-generation GPUs.
The firm reaffirmed its full-year 2026 outlook and said about 70% of deals signed included customer prepayments that covered 50% to 60% of associated capital expenditure. Arkady Volozh, Nebius founder and CEO, said in a shareholder letter that the company delivered on its quarterly targets, and in many cases exceeded them.