Nebius beats quarterly revenue estimates as AI demand fuels growth
Nebius Group surpassed second-quarter revenue estimates on Wednesday as booming demand for AI infrastructure and cloud services helped the company win larger contracts and raise prices for computing capacity, sending its shares up 12% in premarket trading.
The Amsterdam-based AI infrastructure firm reported total revenue of $582.3 million for the quarter ended June, compared with analysts’ average estimate of $572.75 million, according to data compiled by LSEG. Revenue at its core AI cloud business, which accounted for about 98% of group revenue, rose more than 500%.
