Amsterdam's Nebius posts more than 500% Q2 AI cloud surge
Amsterdam's Nebius just pulled off a massive more than 500% jump in its core AI cloud business in the second quarter of 2026, bringing in $582.3 million in total revenue, easily topping what analysts expected.
This surge came from companies scrambling for more AI computing power and Nebius raising its prices to match the demand.
Nebius lands 4 $1B plus contracts
Nebius landed four huge AI cloud contracts last quarter, each worth more than $1 billion, which nearly quadrupled its total contract value.
With most deals paid up front and pricing strengthened during the quarter, aided by demand for next-generation AI chips and higher rates for older-generation GPUs, investors took notice: Nebius shares shot up 12% after the news and are now up more than 130% this year.
Despite all the hype, the company reaffirmed its full-year 2026 outlook.