Amsterdam AI cloud Nebius posts $981 million, eyes $13B by 2027
Nebius, an Amsterdam-based AI cloud company, just pulled in $981 million in quarterly revenue, easily topping Wall Street's forecast.
The buzz? Demand for its cloud services is booming, and it's now aiming to hit up to $13 billion in sales by 2027.
Customers are locking into longer contracts at higher prices, so Nebius is seeing more money upfront than it's spending.
Nebius expects $3B-$3.4B 2026 revenue
Looking ahead to 2026, Nebius expects revenue between $3 billion and $3.4 billion, just a bit under what the market hoped for, but it's still pushing to break even before taxes by the end of 2027.
Even after a dip in its market value last month (thanks to worries about rival CoreWeave's debt), Nebius says it's sticking with its financial plan.
The race is on in the AI cloud world: CoreWeave just raised its annual revenue forecast on Tuesday and said it was targeting profitability on an adjusted basis in the first half of 2028.