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Nebius Group (NBIS) Q2 cloud business revenue increased by 514% year-over-year, with total revenue reaching $582.3 million, exceeding expectations, and the stock price surged by over 20%.
Nebius Group (NBIS) announced its second-quarter earnings on August 12, with its cloud business revenue surging by 514% year-over-year, driving total revenue to $582.3 million, exceeding analysts' expectations of $572.75 million. Following this news, the company's stock price rose by over 20%. Nebius also raised its 2026 contracted power target to 5 gigawatts and expects customer prepayments to exceed $9 billion this year, with total customer commitments reaching $40 billion. Additionally, competitor CoreWeave reported a 112% increase in revenue during the same period, with a backlog of $104.2 billion.
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