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. The company said detailed guidance figures would be given on the earnings call, so the exact revenue and capex ranges are not in the shareholder letter itself. For traders the power target is the main signal of how fast capacity can be turned into revenue.

• Full-year 2026 guidance reaffirmed across all metrics
• Contracted power target for year-end 2026 raised to 5 GW (previously more than 4 GW)
• Management said detailed guidance would be shared on the earnings call and webcast
• Capacity is secured through land and power commitments before construction