Yahoo Finance

AI cloud firm Nebius reports near eightfold revenue jump, shares surge (opens in new tab)

Discussed on r/wallstreetbets

Nebius Group reported a nearly eightfold rise in quarterly revenue on Wednesday, benefiting from rising demand for artificial intelligence ‌infrastructure and cloud services amid a boom in enterprise spending on ‌the technology. Shares of Amsterdam-based Nebius soared 13% in premarket trading. Investments in graphics processing units and ​data center hardware for its core AI cloud business drove first-quarter capital expenditure to about $2.5 billion, compared with $544 million a year earlier...

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