英伟达持仓概念股NEBIUS绩后低开高走，现转涨，此前一度跌超9%。 来源：滚动播报 ...

Core Insights - Nebius (NBIS) has signed an agreement to acquire Tavily, enhancing its AI cloud platform with real-time search capabilities [1][9] - The acquisition positions Nebius to leverage the growing agentic AI market, projected to expand at a CAGR of 43.8% from 2025 to 2034 [2] - Tavily's technology will improve Nebius Token Factory, enabling developers to create enterprise-grade agentic systems with real-time web access [3][4] Company Strategy - By integrating Tavily's search infrastructure, Nebius aims to streamline the development process for AI firms, reducing reliance on multiple vendors [4] - The acquisition is expected to close soon, with Tavily continuing to operate under its brand and serving existing clients, including Fortune 500 companies [5] Market Context - Competitor CoreWeave (CRWV) is also pursuing inorganic growth, having made several acquisitions to enhance its AI infrastructure [6] - Amazon (AMZN) is focusing on internal development and partnerships rather than acquisitions, reporting significant revenue growth in its custom chips and AI services [7] Financial Performance - Nebius shares have decreased by 15.4% over the past month, compared to a 13% decline in the Internet Software and Services industry [8] - The price/book ratio for NBIS is currently at 4.64X, higher than the industry average of 3.46X [10] - Earnings estimates for NBIS have been revised upwards over the past 60 days, indicating positive sentiment [11]

Nebius Group ( NBIS ) reported fourth quarter earnings before market open on Thursday, and after getting an initial bump, the stock looks to be heading sideways. The company looks on track to meet itsTo follow me click the "Follow" button! (Easy right?)And check out my Substack for stock analysis made fun and easy :)https://kumquatresearch.substack.com/ Hi there, thanks for coming to my profile page! My name is Kumquat Research (but you can call me Jeremy) and I've been writing for Seeking Alpha on and off ...

Financial Data and Key Metrics Changes - In Q4 2025, the company reported group revenue of $228 million, representing a year-over-year growth of 547% and a quarter-over-quarter growth of 56% [10] - The annualized run rate revenue for the core AI cloud business reached $1.2 billion at the end of December, exceeding the high end of the previous guidance [11] - Group adjusted EBITDA margin improved from 19% in Q3 to 24% in Q4, indicating strong operational leverage [11] Business Line Data and Key Metrics Changes - The core AI cloud business revenue grew 830% year-over-year and 63% quarter-over-quarter, driven by high utilization and strong pricing [11] - The average contract duration for new cloud customers increased by 50%, reflecting growing demand for AI solutions [5][25] Market Data and Key Metrics Changes - The company sold out of capacity in Q3 and Q4 of 2025, with demand continuing to exceed available capacity [4][11] - The company is experiencing robust demand from both AI startups transitioning to enterprise-scale and established enterprises adopting AI for critical business processes [5][24] Company Strategy and Development Direction - The main strategic focus is to scale the core AI cloud business through organic growth and targeted acquisitions, such as the recent acquisition of Tavily [7][66] - The company plans to invest between $16 billion and $20 billion in capital expenditures in 2026 to support its growth and capacity expansion [16][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving an annualized run rate revenue of $7 billion to $9 billion by the end of 2026, supported by strong demand and capacity expansion [8][12] - The company anticipates that the adjusted EBITDA margin will reach approximately 40% in 2026, driven by the scaling of the core AI business [14][64] Other Important Information - The company ended 2025 with $3.7 billion in cash and cash equivalents, providing a strong financial position to fund growth plans [11] - The company is exploring various funding options, including corporate debt and asset-backed financing, to support its capital needs [17][29] Q&A Session Summary Question: What gives you conviction that the demand for AI will continue to justify these investments? - Management noted that there are strong signals from large clients expanding their capacity needs, and AI startups are transitioning to real enterprises with increasing demand for GPUs [21][24] Question: How are you thinking through to meet the expectations for CapEx? - The COO explained that the majority of CapEx will be financed through cash flows from long-term contracts, with a healthy balance sheet allowing for additional financing options [27][29] Question: Can you help us bridge to the contracted power guidance? - The company is accelerating the build-out of capacity and expects to achieve its goals for 2026 through a mix of smaller and larger projects [36][38] Question: What drove the upside in the December 2025 ARR? - The upside was attributed to solid execution, strong pricing, and utilization, with robust demand trends continuing into Q1 2026 [50][51] Question: How is Nebius handling data center equipment shortages? - Management stated that they are well-positioned to manage risks associated with data center construction and have secured necessary components for major contracts [54][56] Question: What is the strategic rationale behind the acquisition of Tavily? - The acquisition is aimed at enhancing the platform's capabilities and deepening customer engagement, aligning with the company's strategy to be a leading AI cloud provider [66]

Financial Data and Key Metrics Changes - In Q4 2025, the company reported group revenue of $228 million, representing a year-over-year growth of 547% and a quarter-over-quarter growth of 56% [10] - The annualized run rate revenue for the core AI cloud business reached $1.2 billion at the end of December, exceeding the high end of the Q3 guidance range of $1.1 billion [10][11] - Group adjusted EBITDA margin improved from 19% in Q3 to 24% in Q4, with positive adjusted EBITDA achieved at the group level [11][12] Business Line Data and Key Metrics Changes - The core AI cloud business revenue grew 830% year-over-year and 63% quarter-over-quarter, driven by high utilization and strong pricing [11] - The average contract duration for new cloud customers increased by 50%, indicating a growing commitment from clients [5][25] Market Data and Key Metrics Changes - The company sold out of capacity in Q3 and Q4 of 2025, with demand continuing to exceed available capacity [4][11] - The company is on track to exceed 3 gigawatts of contracted power by the end of 2026, having already secured over 2 gigawatts as of February [6][12] Company Strategy and Development Direction - The main strategic focus is to scale the core AI cloud business, expanding both organically and through targeted acquisitions [7] - The company plans to invest $16 billion to $20 billion in capital expenditures in 2026 to capture growth opportunities [16][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving an annualized run rate revenue of $7 billion to $9 billion by the end of 2026, citing strong demand and a robust pipeline [8][12] - The company noted that AI startups are evolving into enterprise-scale customers, significantly increasing their demand for compute resources [5][24] Other Important Information - The company announced the acquisition of Tavily, enhancing its platform capabilities and expanding its developer ecosystem [7][66] - The company is exploring various funding options, including corporate debt and asset-backed financing, to support its growth plans [17][29] Q&A Session Summary Question: What gives you conviction that the demand for AI will continue to justify these investments? - Management highlighted the ongoing conversations with large clients about expanding capacity and the growth of AI startups into real enterprises, indicating strong demand signals across sectors [21][24] Question: How are you thinking through to meet the expectations for CapEx? - The COO stated that cash flows from long-term contracts will finance around 60% of the CapEx needs, with plans to optimize the capital structure by incorporating some debt [28][29] Question: Can you help us bridge to the 3 GW of contracted power guidance by year-end? - The company is accelerating the build-out and deployment of capacity, with ongoing projects expected to contribute to the contracted power goals [36][38] Question: How should we think about your progress against the $7 billion-$9 billion ARR guide? - Management clarified that the 2026 ARR target is not dependent on new mega deals, as strong pipeline growth and existing customer commitments will drive revenue [44][45] Question: What drove the upside in the December 2025 ARR? - The upside was attributed to solid execution, strong pricing, and utilization, with robust demand trends continuing into Q1 2026 [50][51] Question: How is Nebius handling data center equipment shortages? - The company is managing risks by securing long lead items and diversifying its portfolio of sites to ensure capacity deployment [55][56]

Financial Data and Key Metrics Changes - In Q4 2025, Nebius Group reported group revenue of $228 million, representing year-over-year growth of 547% and a quarter-over-quarter growth of 56% [11] - The annualized run rate revenue for the core AI cloud business reached $1.2 billion at the end of December, exceeding the high end of the previous guidance [12] - Group adjusted EBITDA margin improved from 19% in Q3 to 24% in Q4, with positive adjusted EBITDA achieved at the group level [12][15] Business Line Data and Key Metrics Changes - Revenue from the core AI cloud business grew 830% year-over-year and 63% quarter-over-quarter, driven by high utilization and strong pricing [12] - The average contract duration for new cloud customers increased by 50%, indicating a growing commitment from clients [5][25] Market Data and Key Metrics Changes - Demand for AI cloud services remains robust, with significant growth observed in both AI startups and enterprise clients transitioning to AI solutions [5][24] - The company has already contracted more than 2 gigawatts of capacity and is on track to exceed 3 gigawatts in 2026 [9][14] Company Strategy and Development Direction - The main strategic focus is to scale the core AI cloud business through organic growth and targeted acquisitions, such as the recent acquisition of Tavily [7][8] - The company plans to invest between $16 billion and $20 billion in capital expenditures in 2026 to support its growth and capacity expansion [17][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving an annualized run rate revenue of $7 billion to $9 billion by the end of 2026, supported by strong demand and a growing pipeline [8][13] - The company anticipates that the adjusted EBITDA margin will reach approximately 40% in 2026, reflecting the scaling of the AI cloud business [14][61] Other Important Information - The company ended 2025 with $3.7 billion in cash and cash equivalents, positioning it well to fund growth plans [12][13] - A new VP of Investor Relations, Gili Naftalovich, has been appointed to enhance the investor relations function [20] Q&A Session Summary Question: What gives you conviction that the demand for AI will continue to justify these investments? - Management noted that all sectors are increasingly utilizing AI, with large clients expanding their capacity needs and AI startups transitioning to real enterprises with significant revenue growth [22][24] Question: How are you thinking through the CapEx financing plans? - The company plans to finance CapEx primarily through cash flows from long-term contracts, with a healthy balance sheet allowing for additional financing options [27][29] Question: Can you help us bridge to the contracted power guidance? - The company is accelerating the build-out and deployment of capacity, expecting to achieve its goals for 2026 through a mix of smaller and larger projects [35][36] Question: What drove the upside in December 2025 ARR? - The upside was attributed to solid execution, strong pricing, and utilization, with robust demand trends continuing into Q1 2026 [48][49] Question: How is Nebius handling data center equipment shortages? - The company is managing risks effectively by securing necessary components in advance and maintaining a diverse portfolio of data center sites [51][53] Question: What is the strategic rationale behind the acquisition of Tavily? - Tavily enhances the company's platform capabilities by providing agentic search, aligning with the strategy to support AI developers [63][64]

| In USD $ millions | | Three months ended Dec 31 | | | Twelve months ended Dec 31 | | | --- | --- | --- | --- | --- | --- | --- | | | 2024 | 2025 | Change | 2024 | 2025 | Change | | Revenues | 35.2 | 227.7 | 547% | 91.5 | 529.8 | 479% | | Adjusted EBITDA / (loss) | (63.9) | 15.0 | n/m | (226.3) | (64.9) | -71% | | Net income / (loss) from continuing operations | (122.9) | (249.6) | 103% | (352.0) | 29.0 | n/m | | Adjusted net loss | (69.0) | (173.0) | 151% | (238.5) | (446.7) | 87% | Nebius如今已成为"新云服务"提供商中的 ...

reflect changes in the U.S. dollar value of monetary assets and liabilities that are denominated in other currencies, as well as changes in the functional currencies of foreign subsidiaries' monetary assets and liabilities that are denominated in currencies different from their respective local currencies. Because foreign exchange fluctuations are outside of our operational control, we believe that it is useful to present Adjusted EBITDA/(loss), adjusted net income/(loss) and related margin measures excludi ...

智通财经APP获悉，AI云计算服务提供商Nebius(NBIS.US)公布了其2025年第四季度业绩。财报显示，Nebius四季度营收同比暴增547%至2.277亿美元，但不 及市场预期的2.475亿美元;调整后的息税折旧摊销前利润(BEBITDA)为1500万美元;调整后的净亏损为1.73亿美元，较上年同期的净亏损0.69亿美元扩大 151%。 Nebius如今已成为"新云服务"提供商中的佼佼者。其核心业务包括供应英伟达(NVDA.US)GPU及AI云服务，助力企业扩展AI基础设施。全球AI算力需求的持 续旺盛——即便是微软、亚马逊(AMZN.US)等头部云厂商也面临算力短缺——让Nebius及其主要竞争对手CoreWeave(CRWV.US)迎来需求爆发。Nebius因与 美国超大规模企业达成多项备受瞩目的人工智能基础设施供应协议而声名鹊起，其中包括与微软的170亿美元合作及与Meta(META.US)的30亿美元订单。 值得一提的是，Nebius周四宣布，计划在法国Béthune新建一座240兆瓦的数据中心，建成后将成为欧洲最大的数据中心之一。该公司首席传播官汤姆·布莱克 韦尔称，该项目将对原倍耐力轮胎 ...

Core Insights - Nvidia's holding concept stock NEBIUS experienced a V-shaped rebound, rising over 4% after previously dropping more than 7% [2] - The company reported a significant year-over-year revenue increase of 547% for Q4 [2] - Other related stocks such as CoreWeave and Applied Digital also saw gains, with CoreWeave up over 2% and Applied Digital up 1.5% [2]