Nebius revenue jumps 571% to $980.8 million as it guides 2027 to $12-13 billion

Nov 12, 2026
The AI cloud company beat estimates but expects 2026 revenue at the low end of its $3 billion to $3.4 billion range and raised 2026 capital spending to $27 billion.
Nebius revenue jumps 571% to $980.8 million as it guides 2027 to $12-13 billion

Nebius, the Amsterdam-based AI cloud company, reported third-quarter revenue of $980.8 million, up 571% from $146.1 million a year earlier, according to its results release. Analysts had expected $907.5 million, according to CNBC figures cited by Quartz.

Adjusted EBITDA was $465.8 million, against a loss of $5.2 million a year earlier, and the net loss from continuing operations narrowed to $37.5 million from $119.6 million. Spending on property, equipment and intangible assets reached $7.3 billion in the quarter, up from $955.5 million.

In his letter to shareholders, CEO Arkady Volozh said Nebius expects 2026 revenue near the bottom of its $3 billion to $3.4 billion range, and the company raised its 2026 capital spending plan to $27 billion from $20 billion to $25 billion, Quartz reported. Nebius gave a first 2027 revenue outlook of $12 billion to $13 billion, which it called a cautious view of how fast it can build data centers. Nebius shares were down 8% on Thursday.

The results follow CoreWeave's third-quarter report earlier this week.

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