The stock traded between $216.11 and $235.96 after opening at $226, compared with its previous close of $193.23.
Nebius reported its results a day after its larger rival CoreWeave raised its annual forecasts, fuelling a broader rally in AI infrastructure stocks as both companies signalled that demand for computing capacity continued to outpace supply.
Nebius reported a sixfold surge in revenue from its core AI cloud business, which took overall sales to $582.3 million in the June ended quarter, beating analysts' estimates of $572.75 million, according to LSEG data.
Nebius is turning rising demand into “contracted, profitable growth,” CEO Arkady Volozh told Reuters.
The Nvidia-powered AI cloud provider secured four deals averaging over $1 billion each, nearly quadrupling its total contract value, while contracts from new customers surged more than ninefold.
Nebius spent about $5.7 billion during the quarter, above analysts’ estimate of $4.7 billion, as it continued to invest heavily in GPUs and data-centre expansion. The company said AI cloud contracts signed during the period, with annual values exceeding $20 million per megawatt, were expected to come online late in the fourth quarter.
Nebius raised its contracted power target for 2026 to 5 gigawatts from more than 4 GW and plans to add over 1 GW of capacity annually from 2027—enough to power about 750,000 US homes. It expects more than $9 billion in customer prepayments this year and has secured over $40 billion in customer commitments.
(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)
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