NBIS
Nebius Group N.V.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Nebius Group N.V..
Coverage
Anthropic Has Contracted 1.19 GW. Half of It Costs $2.37M per MW-Year, the Other Half $15.46M.
Four reported Anthropic capacity deals total 1,185 MW for $83.1B, and split by term they are two products: $2.37M per MW-year on 20-year leases, $15.46M on six.
Broadcom May Raise $60B for AI Deals. Its 10-Q Already Disclosed a $29B Lease Backstop.
Bloomberg says Broadcom may raise $60B for AI deals. Its 10-Q already discloses the shape: a $29B lease backstop — 44.7% of total debt — behind Apollo's racks.
Nebius Added $4.5B of Converts. Existing Notes Carry 1%–3% Coupons but Cost Up to 7.06%.
Nebius announced $4.5B of convertibles whose principal accretes to 115-125% of face — its own filing books 1.00-3.00% coupons at effective rates up to 7.06%.
The Neocloud "Revenue per Megawatt" Ranking Is Measuring Contract Length, Not Efficiency
The circulating revenue-per-megawatt neocloud table mixes multi-year backlog with annual figures and never divides by years. Fixed, first and seventh swap.
Nvidia's Disclosed Stock Portfolio Grew $45 Billion Last Quarter. It Bought One Thing.
Nvidia's Q2 13F shows eight positions worth $63.4B, up $45B in a quarter. Seven share counts are unchanged: the move is one new position and Intel tripling.
Nebius's Run Rate Says $3 Billion. Its Income Statement Says $582 Million and a Loss.
Nebius reported revenue of $582.3M up 454% with $3.0B of ARR — and $5.66B of capex against it, 9.7x, with a $190.4M net loss. Three numbers, one company.
Where the revenue goes next
Latest: $582M (2026Q2)
| Period | Value |
|---|---|
| 2024Q3 | $32M |
| 2024Q4 | $35M |
| 2025Q1 | $51M |
| 2025Q2 | $105M |
| 2025Q3 | $146M |
| 2025Q4 | $228M |
| 2026Q1 | $399M |
| 2026Q2 | $582M |
Latest: -$0.68 (2026Q2)
| Period | Value |
|---|---|
| 2024Q3 | -$0.16 |
| 2024Q4 | -$0.44 |
| 2025Q1 | -$0.44 |
| 2025Q2 | $2.05 |
| 2025Q3 | -$0.49 |
| 2025Q4 | -$1.03 |
| 2026Q1 | $2.11 |
| 2026Q2 | -$0.68 |
Latest: 39.3 (2026Q1)
| Period | Value |
|---|---|
| 2025Q2 | 54.8 |
| 2025Q3 | 165.1 |
| 2025Q4 | 930.1 |
| 2026Q1 | 39.3 |
Latest earnings
Company History
Completed rebranding from Yandex N.V. to Nebius Group N.V.; focused on AI cloud/infrastructure, divested Russia ops
Peak euphoria on AI tailwinds, capacity expansion, and market share gains in GPU cloud
Launched Nebius AI Cloud updates (Blackwell Ultra), multi-billion ARR projections, government contracts
Stock exploded on AI hype, GPU cluster builds, Blackwell announcements, and explosive demand for AI compute
Focus on capacity ramp, order conversion, Blackwell GPU deployment, and multi-billion ARR guidance
~20-30%+ decline from peak on valuation concerns, broader AI/tech rotation, and profit-taking
Surged back to ~$86 on volume; narrative refocus on fundamentals (700% ARR growth, earnings catalyst)
Fell sharply to ~$74 amid market pressure; sparked buy-the-dip talk given undervaluation signals
Key Players
The CEO view — 3 podcasts, interviews & articles →
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Funds we follow holding NBIS
By latest reported 13F position value. Market value at quarter-end, not cost basis.
