Nebius Crushes Q2 Expectations with 454% Revenue Growth

Nebius, an AI infrastructure firm backed by Nvidia, reported stronger-than-expected results for its second quarter. The company's shares popped 29% in recent trading after it posted adjusted EBITDA of $236.2 million on revenue that jumped 454% year-over-year to $582.3 million.

This exceeded analysts' estimates of $168.9 million and $570.7 million, respectively. CEO Arkady Volozh noted the company's efforts to build its future capacity pipeline through owned and co-located sites, raising the year-end contracted power target to 5 gigawatts.

Nebius shares have roughly tripled in value this year, although they remain about 17% off their June highs. The stock has become one of the leaders on the Nasdaq due to its impressive performance.