**Nebius Group (NASDAQ: NBIS) has seen its stock surge 5.3 times over the past year, driven by the increasing demand for AI data center computing capacity.** The company reported a staggering 7.8x year-over-year revenue increase, reaching $399 million in Q1 2026, with adjusted EBITDA soaring to $129.5 million, up from a loss of $53.7 million the previous year. Nebius aims to expand its data center power capacity from 170 megawatts (MW) in 2025 to a target of 800 MW to 1 gigawatt (GW) by the end of 2026, securing contracts with major clients like Meta Platforms and Microsoft, which contribute to a revenue backlog exceeding $46 billion.
For the entire year, Nebius expects revenue between $3 billion and $3.4 billion, potentially marking a sixfold increase from last year. Furthermore, it anticipates closing 2026 with a contracted data center power capacity of 4 GW, positioning itself for continued growth as it aims for a long-term target of 5 GW by 2030. Analysts project that if Nebius achieves $20.4 billion in revenue by 2028, its market capitalization could exceed $163 billion, suggesting the stock price could rise to over $600 within three years.
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