AI cloud firm Nebius posts surge in capex on GPU, data center expenses

Group 1 - Nebius Group reported a significant increase in quarterly capital spending, reaching approximately $2.1 billion in the December quarter, up from $416 million in the same period last year, driven by investments in AI processors and data centers [3][4] - The company plans to expand its data center footprint with nine new sites across the U.S., France, Israel, and the UK to meet the growing demand for AI cloud services [1][2] - Nebius has secured over 2 gigawatts (GW) of contracted power, with expectations to exceed 3 GW by year-end, up from a previous forecast of over 2.5 GW [4] Group 2 - The company reported a more than six-fold increase in revenue to $227.7 million for the fourth quarter, although it fell short of estimates of $246.1 million [4] - Nebius anticipates an annualized revenue run-rate of $7 billion to $9 billion by the end of 2026, a significant increase from $1.25 billion at the end of 2025 [5] - The company has benefited from increased enterprise spending on AI, positioning itself alongside larger rivals like CoreWeave in the neocloud sector [2][3]