Asset-light partner model
Introduced in Q2 2026 so partners can build capacity on Nebius's platform in their own data centers.
What it is
Partners fund and own the GPU infrastructure in their own sites, and Nebius supplies the AI cloud software, system architecture and go-to-market. Nebius turns partner-financed capacity into revenue with little capital of its own.
Why it matters to the stock. It is a way to add capacity without matching capex. If it scales, it changes how much of the buildout Nebius has to fund itself.
News
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.
Product