Nebius Group N.V.(US:NBIS) 美股IPO·2026-02-12 13:39Core Insights - Nebius (NBIS.US) reported a staggering 547% year-over-year revenue increase in Q4 2025, reaching $227.7 million, although it fell short of market expectations of $247.5 million [1][3] - The adjusted EBITDA for the quarter was $15 million, while the adjusted net loss expanded by 151% to $173 million compared to the previous year [1][3] - Nebius has emerged as a leader among "new cloud service" providers, focusing on supplying NVIDIA (NVDA.US) GPUs and AI cloud services to help enterprises expand their AI infrastructure [1][3] Financial Performance - Q4 2025 revenues were $227.7 million, a 547% increase from $35.2 million in Q4 2024 [3] - Adjusted EBITDA improved to $15 million from a loss of $63.9 million in the same quarter last year [3] - The net loss from continuing operations increased to $249.6 million, a 103% rise from $122.9 million in Q4 2024 [3] - For the full year, revenues reached $529.8 million, up 479% from $91.5 million in 2024 [3] Market Position and Demand - Nebius is benefiting from a surge in global AI computing power demand, even as major cloud providers like Microsoft and Amazon (AMZN.US) face capacity shortages [1][3] - The company has secured significant AI infrastructure supply agreements, including a $17 billion partnership with Microsoft and a $3 billion order from Meta (META.US) [1][3] Expansion Plans - Nebius announced plans to build a 240 MW data center in Béthune, France, which will become one of the largest data centers in Europe [4] - The project will involve the transformation of the former Pirelli tire factory and is expected to be operational in phases, with the first facilities set to launch by late summer [5] - Although financial terms have not been disclosed, the investment for such a large-scale data center is expected to be in the billions of euros [5]