Nebius Beats Quarterly Revenue Estimates as AI Demand Fuels Growth

3-line summary

• Nebius Group reported second-quarter revenue of $582.3 million, above analysts' average estimate of $572.75 million, with shares up 12% in premarket trading, according to a Reuters report via Yahoo Finance.
• Revenue at its core AI cloud business, about 98% of group revenue, rose more than 500%; the company closed four AI cloud deals in the quarter each averaging over $1 billion in total contract value.
• Nebius reaffirmed its full-year 2026 outlook, with roughly 70% of deals signed in the period including customer prepayments covering 50-60% of associated capital expenditure.

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