TechFlow News, May 13: According to TheEnergyMag, AI cloud service provider Nebius (NASDAQ: NBIS) released its first-quarter financial results, reporting revenue of $399 million—more than seven times year-on-year growth—and exceeding analysts’ expectations of $371 million. Its adjusted net loss stood at $100.3 million, better than market expectations. Following the earnings release, Nebius’s stock rose approximately 17% in pre-market trading, with its year-to-date gains surpassing 100%.
This quarter, the company’s capital expenditures surged to approximately $2.5 billion. It also announced securing 1.2 gigawatts of power capacity and land in Pennsylvania for constructing a new AI factory. CEO Arkady Volozh stated that enterprises are transitioning from AI experimentation to large-scale production deployment, and the company continues to face “unprecedented demand.” Additionally, Nebius recently acquired AI startup Eigen AI for approximately $643 million and signed a five-year, long-term AI compute supply agreement with Meta Platforms valued at up to $27 billion.
