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Story summary
- Nebius (NBIS) reported a Q2 revenue increase, raising its annualized run rate guidance to $900 million-$1.1 billion due to AI infrastructure demand.
- The company plans to expand data center capacity, targeting over 1 gigawatt of power by 2026, amid competition from Amazon and Microsoft.
- Management expects positive adjusted EBITDA by year-end, but 2025 full-year EBITDA will remain negative.
- Concerns arise over $2 billion in capital expenditures amid fluctuating AI demand and pricing pressures.
