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]

Core Insights - Nvidia's holding concept stock NEBIUS experienced a V-shaped rebound in pre-market trading, rising over 4% after previously dropping more than 7% [1] - The company reported a significant year-over-year revenue increase of 547% for Q4 [1] - CoreWeave and Applied Digital also saw gains, with CoreWeave rising over 2% and Applied Digital increasing by 1.5% [1]

Core Insights - Nebius, an Amsterdam-based AI cloud services firm, is planning to construct a 240-megawatt data centre in Béthune, France, which will be among the largest in Europe upon completion [1][1] - The project involves redeveloping a former Bridgestone tyre plant and is expected to deliver capacity in phases, with the first capacity expected to be operational by late summer and approximately half of the site operational by the end of 2026 [1][1] - Nebius has gained recognition for securing significant deals to provide AI infrastructure to major U.S. companies, including a $17 billion agreement with Microsoft and a $3 billion deal with Meta [1][1] Financial Implications - Although the financial specifics of the Béthune project were not disclosed, a data centre of this magnitude is anticipated to require several billion euros in investment [1][1]

Core Viewpoint - The article discusses the potential rebound of AI infrastructure stocks, particularly Nebius Group, following its upcoming quarterly report, despite recent sell-offs in the AI sector due to investor concerns about business disruptions and heavy spending on AI data centers [1][2][3]. Company Overview - Nebius Group is a neocloud company that provides AI hardware and software solutions through dedicated data centers powered by accelerators from Nvidia and AMD. The company rents out its computing capacity for AI workloads and offers various managed software services [5]. - Nebius has secured significant contracts with major hyperscalers like Meta Platforms and Microsoft, totaling over $20 billion over the next five years, which positions it for long-term success [7][8]. Financial Performance - Nebius is projected to generate $550 million in revenue in 2025, reflecting a 368% increase from the previous year. Analysts expect revenue to rise more than sixfold in 2026, reaching nearly $3.5 billion [8][10]. - The company currently has a market capitalization of $22 billion and trades at a high valuation of 57 times sales, which is justified by its impressive growth and demand for AI infrastructure [11][12]. Market Dynamics - The demand for Nebius' AI infrastructure is currently exceeding supply, driven by large contracts with major clients. This demand is expected to continue, especially with Microsoft's substantial revenue backlog, which may lead to additional contracts for Nebius [7][9]. - The upcoming quarterly report on February 12 is anticipated to provide a solid outlook for Nebius, potentially leading to a stock price increase [10][11].

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Core Insights - Nebius, an AI cloud computing service provider, has agreed to acquire Tavily, a startup specializing in proxy search services, to enhance its AI cloud platform [1] - The integration of Tavily's technology will allow Nebius to expand its software stack necessary for building and operating enterprise-level proxy systems [1] - The acquisition is expected to be completed in the coming weeks, with an initial payment of $275 million, potentially rising to $400 million based on specific milestones [1] Company Developments - Nebius aims to combine high-performance inference with real-time information sourcing to provide core building blocks for next-generation AI applications [1] - The acquisition will enable developers to focus on application development without managing multiple vendors, aligning with Nebius's strategy to offer an open platform for clients ranging from startups to large enterprises [2] - Tavily, founded in 2024, has offices in Tel Aviv, New York, and Abu Dhabi, and its CEO Rotem Weiss and approximately 30 employees will join Nebius to continue product development [1] Industry Outlook - The proxy AI market is projected to grow from $7.5 billion in 2025 to nearly $200 billion by 2034, indicating significant growth potential in the sector [2]