Nebius Group Financial Update
Nebius Group (NASDAQ: NBIS) reported an annualized run rate of $1.9 billion at the end of March 2023, a significant increase from $1.25 billion at the end of December 2022. For the year, management projects revenues between $3 billion and $3.4 billion, and an exit run rate of $7 billion to $9 billion. The AI cloud provider’s market capitalization stands at approximately $48.6 billion.
In Q1 2023, Nebius saw a remarkable revenue increase of 684% year-over-year, reaching $399 million, with its AI cloud business alone growing by 841% to $390 million. The company is forecasted to incur capital expenditures of $25 billion this year to support its growth and has secured over 3.5 gigawatts of contracted power, with expectations to connect 800 megawatts to 1 gigawatt by year-end.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
