Overview
- Nebius, which reported results Wednesday, posted Q1 revenue of $399 million that topped estimates and its shares rose roughly 12%–15% in early trading.
- Management lifted 2026 capital spending guidance to $20 billion–$25 billion after investing about $2.5 billion in the quarter to secure GPUs and data‑center hardware.
- The company outlined new U.S. buildouts, with up to 1.2 gigawatts of power secured for a Pennsylvania site and a gigawatt‑scale campus breaking ground in Independence, Missouri.
- Results showed a GAAP net income of $621.2 million driven by a revaluation gain, while adjusted net loss totaled $100.3 million even as adjusted EBITDA turned positive.
- Demand visibility is bolstered by a $2 billion Nvidia investment, a Meta capacity deal worth up to $27 billion, and a planned $643 million Eigen AI purchase, though analysts are watching margins and execution.