Nebius Group N.V. (NBIS) reported a first-quarter 2026 revenue increase of 684% year-over-year, reaching $399 million, as demand for AI cloud services continues to surge. Despite a net loss of $100.3 million, the company’s adjusted EBITDA improved significantly to $129.5 million, supported by strong performance in its AI business, which saw revenues rise by 841% to $390 million.
On 13 May 2026, Nebius announced a $27 billion agreement with Meta Platforms, Inc. (META), including a $12 billion compute commitment. The company strengthened its balance sheet with approximately $4.3 billion raised from convertible senior notes and a $2 billion equity investment from NVIDIA Corporation (NVDA), increasing cash reserves to $9.3 billion.
Nebius anticipates annualized run-rate revenue of $7 billion to $9 billion for 2026 and has raised its capital expenditure guidance to between $20 billion and $25 billion, reflecting accelerated investments to meet expected future demand.
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