Nebius Raises Year-End Power Target to 5 Gigawatts in Six Months
In just six months, Nebius Group has raised its contracted power target from over 3 gigawatts (GW) at the end of 2026 to a new goal of more than 5 GW. This rapid escalation reflects strong growth and increasing demand for data center capacity in its AI cloud business. The company reported second-quarter revenue growing by 454% year-over-year, reaching $582.3 million, with the core AI cloud segment contributing nearly all of it. Annualized run-rate revenue hit $3 billion at the end of June — a significant increase from previous quarters and driven largely by high-margin contracts. Nebius also reported improved profitability in its AI business, achieving an adjusted EBITDA margin of 50% for Q2. The company signed four major deals averaging over $1 billion each with annual contract values ranging between $20 million to $25 million per megawatt — a significant increase from earlier figures.
Tickers: $NBIS
Topics: AI cloud contracted power EBITDA revenue growth