Nebius Q1 Revenue Jumps 7x Amid ‘Unprecedented Demand’ for AI Infrastructure
Nebius (NASDAQ: NBIS) Group reported a sharp increase in first-quarter revenue as the AI cloud provider accelerated spending on GPUs and data center infrastructure to meet what it described as surging demand for AI compute capacity.
The company said first-quarter revenue rose to $399 million, up more than sevenfold from $55.3 million a year earlier and above analyst estimates of about $371 million. Nebius posted an adjusted net loss of $100.3 million for the quarter, compared with a loss of $83.6 million a year earlier, though the result came in better than Wall Street expectations for a deeper loss.
Shares of Nebius rose about 17% in premarket trading following the earnings release. The stock had already gained more than 100% year-to-date prior to Wednesday’s session, reflecting investor enthusiasm around AI infrastructure providers benefiting from the ongoing AI spending boom.
The Amsterdam-based company said capital expenditures surged to roughly $2.5 billion in the quarter, compared with $544 million a year earlier, as it expanded its global AI cloud and data center footprint with new GPU deployments and infrastructure investments.
Nebius also announced that it secured up to 1.2 gigawatts of power capacity and land for a new AI factory project in Pennsylvania, adding to a broader infrastructure expansion push aimed at scaling its AI cloud platform.
Chief Executive Arkady Volozh said in a shareholder letter that the company continues to see “unprecedented demand” for AI infrastructure as enterprises move from experimentation toward production-scale AI deployment.
The earnings release comes as Nebius aggressively positions itself as a so-called “neocloud” provider — a new generation of AI-focused cloud operators offering access to Nvidia GPU clusters and AI compute infrastructure amid tight industry-wide supply conditions.
In recent months, the company has expanded through acquisitions and large commercial agreements. Earlier this month, Nebius agreed to acquire AI startup Eigen AI for about $643 million to bolster its inference platform and U.S. operations. It also signed a long-term agreement with Meta Platforms worth up to $27 billion over five years to provide AI computing capacity.
