Nebius AI cloud
AI cloud revenue rose 514% y/y to $574.9 million in Q2 2026; ARR reached $3.0 billion.
The numbers
What it is
GPU cloud for AI training and inference, sold as capacity contracts with AI labs, enterprises and developers. Aether 3.6, the platform release shipped in Q2 2026, added governance controls, storage performance and the Nebius Echo infrastructure agent.
Why it matters to the stock. This is nearly all of the group's revenue. The margin trend and the pace of contract signings set the stock's direction.
News
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 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 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 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.
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.
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.