Nebius (NBIS) revenue jumps nearly eightfold as AI cloud demand drives shares higher

Nebius Group (NBIS) reported a nearly eightfold rise in first-quarter revenue on May 13, 2026, as demand for artificial intelligence infrastructure and cloud services accelerated. Shares of the Amsterdam-based company rose 13% in premarket trading. Revenue for the quarter ended March 31 increased to $399 million from $50.9 million a year earlier, topping the $371.4 million estimate compiled by LSEG. Capital expenditure rose to about $2.5 billion from $544 million, above analysts’ $2.4 billion estimate, driven by investments in graphics processors and data center hardware. Analysts expect Nebius to expand data center capacity to 900 megawatts by the end of 2026, supporting revenue growth but raising margin concerns. The company agreed in May 2026 to buy Eigen AI for about $643 million and signed a long-term deal with Meta to provide up to $27 billion of computing capacity over five years.