Nebius
What matters nowUpdated 6 h ago
- On October 1, 2026, Nebius acquired Inferize, a young inference-optimization company founded in January 2026, and is folding its technology and team into Token Factory to cut cold starts and idle GPU time; the price was not disclosed 1.
- COO and executive director Ophir Nave sold 500,000 Class A shares on October 5, 2026, at about $230.67 to $243.72, under a Rule 10b5-1 plan adopted May 22, 2026, and kept 454,685 shares 2. Over the past 180 days insiders sold 1.35 million shares worth about $301.8 million in 26 sales, 17 of them planned, and bought none.
- Pooled 24/7 venue price: $204.32, down 1.66% from the previous close of $207.77. Recent moves were -7.83% on October 12 (z-score -2.04), -7.44% on October 8, -4.59% on October 7 and +6.97% on October 6.
- Revenue for the trailing twelve months to December 31, 2025 was $529.8 million, up 479% y/y, with a 68.6% gross margin, a -115.5% operating margin and free cash flow of -$3.68 billion; at a $51.7 billion market cap the stock trades at 97.5 times sales. The AI cloud business reported Q2 2026 revenue of $574.9 million, up 514% y/y, and $3.0 billion of ARR.
- Next: Q3 2026 results are expected on November 11, 2026. The target is 5 GW of contracted power by December 31, 2026, and second Meta capacity is expected online in early 2027. Polymarket odds for the October Fed meeting are 81.5% for no change and 17.5% for a 25 bp hike, and September CPI is due October 14.
Nebius Group is an AI cloud company that rents GPU compute, storage and an inference platform to AI labs, enterprises and developers. Its core Nebius AI cloud business made about 90% of FY2025 segment revenue and is the stock's main driver. The group also owns Avride, an autonomous vehicle and delivery-robot business, and TripleTen, an edtech service. It holds minority stakes in ClickHouse and Toloka. It is the international remainder of the former Yandex N.V., which sold its Russian businesses in 2024.
How it makes money
Nebius sells capacity on NVIDIA GPU clusters under mid-term contracts of one to three years, plus shorter premium deals, and charges usage fees for Token Factory inference. Large customers often prepay, which funds part of the capex. Its key cost is data-center capacity and hardware, so revenue growth depends on how fast new megawatts come online. Avride earns robotaxi and robodelivery fees, and TripleTen earns tuition.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2025-12-31 from SEC filings. Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
Nebius AI cloud
AI cloud revenue rose 514% y/y to $574.9 million in Q2 2026; ARR reached $3.0 billion.
Token Factory
Production inference workloads more than tripled in Q2 2026, increasingly on open-weight models.
Data-center capacity build-out
Targeting 5 GW of contracted power by year-end 2026 and more than 1 GW of new deployments per year from 2027.
Next: Year-end 2026 contracted power target of 5 GW · 2026-12-31
Asset-light partner model
Introduced in Q2 2026 so partners can build capacity on Nebius's platform in their own data centers.
Latest newsAll news →
COO Ophir Nave sells 500,000 Class A shares under a 10b5-1 plan
Nebius COO and executive director Ophir Nave sold 500,000 Class A shares on October 5, 2026, at prices from about $230.67 to $243.72, under a Rule 10b5-1 plan adopted May 22, 2026.
Nebius acquires Inferize to strengthen Token Factory inference stack
Nebius said on October 1, 2026 that it had acquired Inferize, a young inference-optimization company founded in January 2026.
SemiAnalysis rates Nebius Platinum in ClusterMAX 3.0 AI cloud ranking
SemiAnalysis placed Nebius in its Platinum tier, its highest, in the ClusterMAX 3.0 ranking of AI cloud providers.
Palantir names Nebius its preferred sovereign AI infrastructure partner
Palantir and Nebius announced a partnership under which Nebius compute and inference endpoints will sit inside Palantir's enterprise perimeter, letting eligible Palantir customers use Nebius cloud and inference while keeping control of their data and models.
Nebius management to present at Goldman Sachs and Citi TMT conferences
Nebius said members of its management team would take part in two investor conferences in the second week of September 2026.
Nebius shareholders approve authority to issue up to 20% more Class A shares
At its August 25, 2026 annual general meeting in Amsterdam, Nebius shareholders adopted every resolution, including authority for the board to issue up to an additional 20% of issued share capital for five years and to exclude pre-emptive rights.
Products & businesses
Nebius AI cloud
AI cloud revenue rose 514% y/y to $574.9 million in Q2 2026; ARR reached $3.0 billion.
Token Factory
Production inference workloads more than tripled in Q2 2026, increasingly on open-weight models.
Data-center capacity build-out
Targeting 5 GW of contracted power by year-end 2026 and more than 1 GW of new deployments per year from 2027.
Next: Year-end 2026 contracted power target of 5 GW · 2026-12-31
Asset-light partner model
Introduced in Q2 2026 so partners can build capacity on Nebius's platform in their own data centers.
Avride
Robotaxi rides on Uber in Dallas and robodelivery in four US cities; AV-capable fleet passed 200 vehicles in May 2026.
TripleTen
Edtech service; cost cuts improved segment results and it added an AI Systems Engineering program in Q2 2026.
What it's building next
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Nebius AI cloud The core AI cloud: GPU compute on long and mid-term contracts, storage, the Token Factory inference platform and the data-center capacity behind them. It generated $574.9 million in Q2 2026 and is the group's main business. | $480.3M | 89.7% | |
| TripleTen Edtech service that trains people for tech careers, including a new AI Systems Engineering program added in Q2 2026. | $54.1M | 10.1% | |
| Avride Autonomous vehicle and robodelivery developer. It runs robotaxis on the Uber platform in Dallas and delivery robots on Uber Eats. | $1.3M | 0.2% |
Fiscal 2025 · from the annual report
Valuation & fundamentals
TTM through 2025-12-31 from SEC filings. Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q4 FY2025 2025-12-31 | Q4 FY2024 2024-12-31 | Q4 FY2023 2023-12-31 | Q4 FY2022 2022-12-31 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | — | — | — | — | — |
| EPS (diluted) | — | — | — | — | — |
| Operating cash flow | — | — | — | — | — |
| Capital expenditure | — | — | — | — | — |
| Cash & equivalents | $3.68B | $3.68B | $2.43B | $110.7M | $288.5M |
| Total debt | $4.10B | $4.10B | — | $1.58B | $727.8M |
| Shares outstanding | 253.0M | 253.0M | 235.8M | — | — |
| Metric | FY2025 2025-12-31 | FY2024 2024-12-31 | FY2023 2023-12-31 | FY2022 2022-12-31 |
|---|---|---|---|---|
| Revenue | $529.8M +479% | $91.5M +834% | $9.8M -27% | $13.5M |
| Cost of revenue | $166.2M +280% | $43.7M +123% | $19.6M -31% | $28.4M |
| Gross profit | $363.6Md +661% | $47.8Md | −$9.8Md | −$14.9Md |
| Research & development | $177.3M +54% | $114.8M +32% | $87.1M +49% | $58.3M |
| Operating income | −$611.7M | −$399.6M | −$285.7M | −$158.0M |
| EBIT | −$611.7M | −$399.6M | −$285.7M | −$158.0M |
| Depreciation & amortization | $417.9M +442% | $77.1M +163% | $29.3M +7% | $27.5M |
| Interest expense | $61.5M | $0 -100% | $121.1M +151% | $48.3M |
| Income tax | $4.0M | −$1.0M -150% | $2.0M +82% | $1.1M |
| Net income | $82.5M | −$641.4M -366% | $241.3M -68% | $745.6M |
| EPS (diluted) | $0.33 | $-2.28 -451% | $0.65 -59% | $1.59 |
| Diluted shares (weighted) | 247.7M | 281.0M | 370.8M | 368.0M |
| Operating cash flow | $384.8M +57% | $245.6M -70% | $829.8M +19% | $697.0M |
| Capital expenditure | $4.07B +404% | $807.5M +874% | $82.9M +468% | $14.6M |
| Cash & equivalents | $3.68B | $2.43B | $110.7M | $288.5M |
| Long-term debt (incl. current portion) | $4.10B | — | $1.58B | $727.8M |
| Total debt | $4.10B | — | $1.58B | $727.8M |
| Total assets | $12.43B | $3.55B | $8.76B | $8.77B |
| Total liabilities | $7.84B | $294.9M | $5.46B | $3.96B |
| Shareholders' equity | $4.59B | $3.25B | $3.29B | $4.50B |
| Shares outstanding | 253.0M | 235.8M | — | — |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
COO Ophir Nave sells 500,000 Class A shares under a 10b5-1 plan
Nebius COO and executive director Ophir Nave sold 500,000 Class A shares on October 5, 2026, at prices from about $230.67 to $243.72, under a Rule 10b5-1 plan adopted May 22, 2026.
Nebius acquires Inferize to strengthen Token Factory inference stack
Nebius said on October 1, 2026 that it had acquired Inferize, a young inference-optimization company founded in January 2026.
SemiAnalysis rates Nebius Platinum in ClusterMAX 3.0 AI cloud ranking
SemiAnalysis placed Nebius in its Platinum tier, its highest, in the ClusterMAX 3.0 ranking of AI cloud providers.
Palantir names Nebius its preferred sovereign AI infrastructure partner
Palantir and Nebius announced a partnership under which Nebius compute and inference endpoints will sit inside Palantir's enterprise perimeter, letting eligible Palantir customers use Nebius cloud and inference while keeping control of their data and models.
Nebius management to present at Goldman Sachs and Citi TMT conferences
Nebius said members of its management team would take part in two investor conferences in the second week of September 2026.
Nebius shareholders approve authority to issue up to 20% more Class A shares
At its August 25, 2026 annual general meeting in Amsterdam, Nebius shareholders adopted every resolution, including authority for the board to issue up to an additional 20% of issued share capital for five years and to exclude pre-emptive rights.
Nebius closes convertible notes at about $5.75 billion and exchanges $800 million of old notes
Nebius closed its convertible notes offering on August 24, 2026, at about $5.75 billion aggregate gross proceeds after the initial purchasers exercised their option in full.
Nebius prices upsized $5.0 billion convertible notes due 2030 and 2034
Nebius priced an upsized private offering of $5.0 billion in convertible senior notes, from an earlier $4.5 billion target.
Nebius reaffirms 2026 outlook and lifts year-end contracted power target to 5 GW
With its Q2 2026 results Nebius kept its full-year 2026 guidance across all metrics and raised its year-end contracted power target to 5 GW, from the more than 4 GW it had indicated last quarter.
Nebius appoints Lindsey Irvine as Chief Marketing Officer
Nebius named Lindsey Irvine its Chief Marketing Officer on August 5, 2026.
Nebius sets August 12 date for Q2 2026 results and call
Nebius said it would publish second-quarter 2026 results before the market opens on Wednesday, August 12, 2026, with a conference call at 8:00 a.m.
Nvidia discloses 9.3% beneficial stake in Nebius, mostly via a warrant
A Schedule 13G filed by NVIDIA reports beneficial ownership of 22,256,412 Nebius Class A shares, or 9.3% of the class.
Nebius closes first senior secured debt facility of about $775 million
Nebius raised about $775 million in its first senior secured debt facility, which matures October 31, 2030 and is priced at SOFR plus 2.50%.
Nebius unveils partner-funded data-center model for its AI cloud
Nebius introduced a business model in which partners finance, own and operate data centers, and Nebius deploys its full-stack AI cloud on that infrastructure and sells the capacity.
Nebius releases AI Cloud 3.6 with the Echo infrastructure agent
Nebius released AI Cloud 3.6, also called Aether, which adds Nebius Echo, an AI agent that runs in the web console and can answer questions and carry out core cloud operations in natural language.
Nebius to join the Nasdaq-100 in the June 2026 rebalance
Nasdaq announced its June 2026 quarterly changes to the Nasdaq-100 and added Nebius, together with Astera Labs, CoreWeave, Rocket Lab and Teradyne.
Nebius completes Eigen AI acquisition after regulatory approvals
Nebius completed its acquisition of Eigen AI on June 10, 2026, after the required regulatory approvals and customary closing conditions were met.
Nebius commits about £1.7B to three new UK AI sites totalling 65 MW
Nebius said it is committing about £1.7 billion to build out capacity at four UK sites, including three new NVIDIA-based deployments that together reach 65 MW when fully ramped in 2027.
Situational Awareness discloses 5.6% stake in Nebius
The hedge fund Situational Awareness LP disclosed a passive stake of about 12.4 million Nebius Class A shares, or 5.6% of the class, in a Schedule 13G filing.
Nebius Q1 2026 revenue rises 684% to $399M; EBITDA turns positive
Nebius reported first-quarter 2026 revenue of $399.0 million, up 684% from a year earlier, and adjusted EBITDA of $129.5 million against a loss of $53.7 million.
Nebius hires Clarifai's core team and licenses its inference technology
Nebius hired the core engineering and research team of Clarifai, led by founder Matthew Zeiler, who becomes SVP of Research.
Nebius agrees to buy inference optimizer Eigen AI for about $643M
Nebius agreed to acquire Eigen AI, an inference and model-optimization firm, for about $643 million, subject to adjustments.
Nebius to build up to 310 MW AI factory in Lappeenranta, Finland
Nebius announced a new AI factory of up to 310 megawatts in Lappeenranta, Finland.
Nebius prices upsized $4.0B convertible notes due 2031 and 2033
Nebius priced an upsized $4.0 billion private offering of convertible senior notes, raised from an initial $3.75 billion.
Meta signs up to $27B five-year AI infrastructure deal with Nebius
Nebius signed a five-year AI infrastructure agreement with Meta worth up to about $27 billion.
NVIDIA to invest $2 billion in Nebius and back a 5 GW build-out
NVIDIA agreed to invest $2 billion in Nebius, and the two companies said Nebius will deploy more than 5 gigawatts of NVIDIA-based capacity by the end of 2030.
Nebius names Dan Lawrence SVP and General Manager for the Americas
Nebius appointed Dan Lawrence as Senior Vice President and General Manager for the Americas, to lead North American expansion and build out the sales organization.
Nebius closes 2025 with $1.25B ARR and guides 2026 revenue to $3.0B-$3.4B
Nebius reported fourth-quarter 2025 revenue of $227.7 million and full-year 2025 revenue of $529.8 million, with year-end annualized run-rate revenue (ARR) of $1.25 billion.
CoreWeave adds Nvidia Vera Rubin to its cloud for second-half 2026
CoreWeave said it will add Nvidia's Rubin platform to its AI cloud and expects to be among the first cloud providers to deploy it in the second half of 2026.
SEC filings
| Oct 6, 26 | 4 | Form 4: Nave Ophir (COO, Director) — open-market sale 500,000 sh | sec.gov ↗ |
| Oct 5, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Oct 5, 26 | 4 | Form 4: Korolenko Andrey (Chief Infrastructure Officer) — open-market sale 29,090 sh | sec.gov ↗ |
| Oct 5, 26 | 4 | Form 4: Shtan Danila (Chief Technology Officer) — open-market sale 14,546 sh | sec.gov ↗ |
| Oct 5, 26 | 4 | Form 4: Volozh Arkadiy (CEO, Director, 10% Owner) — open-market sale 37,778 sh | sec.gov ↗ |
| Oct 1, 26 | 6-K | 6-K: Report of foreign private issuer | sec.gov ↗ |
| Oct 1, 26 | 4 | Form 4: Boynton John Wilson IV (Director) — open-market sale 50 sh | sec.gov ↗ |
| Sep 29, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 21, 26 | 4 | Form 4: Boroditsky Marc (Chief Revenue Officer) — open-market sale 26,886 sh | sec.gov ↗ |
| Sep 17, 26 | 4 | Form 4: Boynton John Wilson IV (Director) — open-market sale 6,364 sh | sec.gov ↗ |
| Sep 16, 26 | 4 | Form 4: Boroditsky Marc (Chief Revenue Officer) — option exercise 7,000 sh, open-market sale 7,000 sh | sec.gov ↗ |
| Sep 15, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 8, 26 | 6-K | 6-K: Report of foreign private issuer | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Weigand Matthew Robert (Director) — award 1,352 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Ryan Charles E (Director) — award 1,352 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Grimme Arne (Director) — award 1,352 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Radinsky Kira (Director) — award 1,352 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Bunina Elena (Director) — award 1,352 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Nave Ophir (COO, Director) — award 1,352 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Volozh Arkadiy (CEO, Director, 10% Owner) — award 1,352 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Boynton John Wilson IV (Director) — award 1,352 sh | sec.gov ↗ |
| Sep 2, 26 | 4 | Form 4: Alonso Sanchez Maria del Dado (CFO) — open-market sale 470 sh | sec.gov ↗ |
| Aug 31, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 26, 26 | 6-K | 6-K: Report of foreign private issuer | sec.gov ↗ |
| Aug 24, 26 | 6-K | 6-K: Report of foreign private issuer | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-05 | Nave Ophir COO, Director | Sale 10b5-1 plan | 500.0K | $235.53 | $117.8M |
| 2026-10-01 | Volozh Arkadiy CEO, Director, 10% Owner | Sale | 37.8K | $234.16 | $8.8M |
| 2026-10-01 | Shtan Danila Chief Technology Officer | Sale | 14.5K | $234.16 | $3.4M |
| 2026-10-01 | Korolenko Andrey Chief Infrastructure Officer | Sale | 29.1K | $234.16 | $6.8M |
| 2026-09-29 | Boynton John Wilson IV Director | Sale 10b5-1 plan | 50 | $235.01 | $11.8K |
| 2026-09-15 | Boynton John Wilson IV Director | Sale 10b5-1 plan | 6.4K | $210.36 | $1.3M |
| 2026-09-14 | Boroditsky Marc Chief Revenue Officer | Sale 10b5-1 plan | 7.0K | $209.08 | $1.5M |
| 2026-09-01 | Alonso Sanchez Maria del Dado CFO | Sale | 470 | $196.00 | $92.1K |
| 2026-08-14 | Ryan Charles E Director | Sale 10b5-1 plan | 50.0K | $265.53 | $13.3M |
| 2026-08-14 | Boynton John Wilson IV Director | Sale 10b5-1 plan | 5.3K | $270.99 | $1.4M |
| 2026-07-15 | Boynton John Wilson IV Director | Sale 10b5-1 plan | 7.0K | $197.00 | $1.4M |
| 2026-07-15 | Boroditsky Marc Chief Revenue Officer | Sale 10b5-1 plan | 22.4K | $197.00 | $4.4M |
| 2026-07-01 | Korolenko Andrey Chief Infrastructure Officer | Sale | 33.9K | $235.45 | $8.0M |
| 2026-07-01 | Shtan Danila Chief Technology Officer | Sale | 16.9K | $235.45 | $4.0M |
| 2026-07-01 | Volozh Arkadiy CEO, Director, 10% Owner | Sale | 46.6K | $235.45 | $11.0M |
| 2026-06-15 | Boynton John Wilson IV Director | Sale 10b5-1 plan | 5.8K | $253.29 | $1.5M |
| 2026-06-15 | Boroditsky Marc Chief Revenue Officer | Sale 10b5-1 plan | 4.5K | $250.00 | $1.1M |
| 2026-06-04 | Shtan Danila Chief Technology Officer | Sale 10b5-1 plan | 15.7K | $238.96 | $3.7M |
| 2026-06-02 | Alonso Sanchez Maria del Dado CFO | Sale | 1.5K | $276.20 | $416.8K |
| 2026-06-02 | Boroditsky Marc Chief Revenue Officer | Sale | 10.8K | $276.20 | $3.0M |
| 2026-05-20 | Tal Boaz General Counsel | Sale 10b5-1 plan | 5.1K | $199.39 | $1.0M |
| 2026-05-15 | Boroditsky Marc Chief Revenue Officer | Sale 10b5-1 plan | 4.5K | $217.55 | $979.0K |
| 2026-05-13 | Bunina Elena Director | Sale 10b5-1 plan | 10.9K | $206.87 | $2.3M |
| 2026-05-13 | Korolenko Andrey Chief Infrastructure Officer | Sale 10b5-1 plan | 500.0K | $203.24 | $101.6M |
| 2026-05-06 | Bunina Elena Director | Sale 10b5-1 plan | 10.8K | $184.86 | $2.0M |