business
Nebius reports higher quarterly capex on AI cloud expansion
Key takeaways
- Shares of Amsterdam-based Nebius soared 13% in premarket trading.
- The company has grabbed a slice of the lucrative AI and cloud infrastructure market by providing Nvidia GPUs and computing platforms to developers.
- Nebius offers storage, managed tools and software to help customers build, train and deploy models using its proprietary cloud architecture and in-house hardware.
AI cloud firm Nebius reports near eightfold revenue jump, shares surge Reuters Wed, May 13, 2026 at 6:04 PM GMT+7 2 min read NBIS NVDA May 13 (Reuters) - Nebius Group reported a nearly eightfold rise in quarterly revenue on Wednesday, benefiting from rising demand for artificial intelligence infrastructure and cloud services amid a boom in enterprise spending on the technology.
Shares of Amsterdam-based Nebius soared 13% in premarket trading.
Investments in graphics processing units and data center hardware for its core AI cloud business drove first-quarter capital expenditure to about $2.5 billion, compared with $544 million a year earlier and above analysts estimate of $2.4 billion, according to Visible Alpha.
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