"Nebius Group's revenue in Q4 surged to $227.7 million - a remarkable 547% jump from $35.2 million last year. For all of 2025, revenue reached $529.8 million, up 479% from $91.5 million a year ago. This explosive growth was primarily powered by the core AI cloud segment, which benefited from high GPU utilization and escalating demand for advanced compute resources. By the end of 2025, the company achieved an annualized run-rate revenue of $1.25 billion, surpassing its earlier guidance."
"Adjusted EBITDA also flipped positive to $15 million compared to a $63.9 million loss a year earlier, though it came in below the $22.55 million analyst consensus. Capital expenditures accelerated sharply, totaling about $2.1 billion up from $416 million in the prior-year period, mainly for GPUs and supporting infrastructure. Full-year 2025 capex hit $4.1 billion. These investments enabled significant capacity additions, with active power capacity reaching roughly 170 megawatts by year-end - well ahead of the 100-megawatt goal."
Nebius Group posted explosive AI-driven growth, with Q4 revenue of $227.7 million and full-year 2025 revenue of $529.8 million, representing large year-over-year gains. The core AI cloud segment delivered high GPU utilization and demand, producing a $1.25 billion annualized run rate by year-end. Adjusted EBITDA turned positive at $15 million despite a widened net loss of $249.6 million due to elevated operating expenses from rapid scaling. Capital expenditures surged to about $2.1 billion in Q4 and $4.1 billion for the year, funding capacity to roughly 170 megawatts. Management guided much larger 2026 capex to support continued acceleration, prompting investor concern about near-term cash flow.
Read at 24/7 Wall St.
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