Nebius Group (NASDAQ: NBIS) raised its 2025 annualized run-rate revenue guidance to between $900 million and $1.1 billion after reporting a sharp rise in second-quarter revenue, driven by strong demand for its AI infrastructure services.
Revenue for the three months ended June 30 rose to $105.1 million from $14.5 million a year earlier, an increase of 625%. The figure was up 106% from the prior quarter. Core operations posted a positive adjusted EBITDA of $21 million in the quarter, compared with a loss of $58.1 million a year earlier.
Net income from continuing operations came in at $502.5 million, compared with a loss of $116.9 million in the same period last year, helped by a $597.4 million gain from the revaluation of investment in equity securities. Adjusted net loss widened to $91.5 million from $61.6 million a year ago.
The Amsterdam-headquartered company said it is working to secure more than 1 GW of power capacity by the end of 2026 to support growth. Operating costs and expenses rose 71% to $216.3 million, while capital expenditure increased more than threefold to $510.6 million.
Nebius operates an AI cloud platform along with autonomous vehicle developer Avride and edtech firm TripleTen. It also holds equity stakes in ClickHouse and Toloka.
