Nebius Group N.V. (NBIS)** is targeting $7-9 billion in annual recurring revenue by 2026, significantly increasing its contracted power capacity from 1 gigawatt to 2.5 gigawatts. The company aims to have about 800 megawatts to 1 gigawatt of fully built data center power by the end of 2026. Expansion efforts include launching facilities in Israel and the U.K. in the third quarter of 2025, with much of this capacity presold ahead of opening.
Management is focused on accelerating builds and securing long-term power contracts amid a competitive landscape, including major players like Microsoft and CoreWeave. As of late 2025, Nebius already contracted substantial power capacity, improving execution risk visibility as facilities are completed and equipped with GPUs, particularly with next-gen technology on the horizon.
Despite rising capital expenditures and competition, Nebius plans to expand its footprint in the U.K., Israel, and New Jersey, while also launching new sites across the U.S. and Europe in early 2026. However, execution risks and macroeconomic uncertainty remain challenges as the company navigates a crowded AI infrastructure market.
