Nebius Q1 Revenue Surges 7x YoY to $399M, Stock Jumps 17% in Premarket

According to TheEnergyMag, AI cloud provider Nebius (NASDAQ: NBIS) reported Q1 revenue of $399 million, surging 7 times year-over-year and beating analyst expectations of $371 million. The stock jumped approximately 17% in premarket trading and has gained over 100% year-to-date.

The company expanded capital expenditure to roughly $2.5 billion and announced a 1.2-gigawatt power capacity allocation in Pennsylvania for new AI infrastructure. Nebius also acquired AI startup Eigen AI for $643 million and signed a five-year agreement with Meta Platforms for up to $27 billion in AI computing supply.