Nebius Group Q2 2026 Revenue Surges 454% to $582.3M on AI Cloud Demand, Stock Jumps 16.6% Pre-Market

Nebius Group reported second-quarter 2026 revenue of $582.3 million, a 454% year-over-year increase that topped analyst estimates of $574 million. The growth was driven almost entirely by the company's AI cloud business, which generated $575 million in revenue, up 514% from the prior-year period. GAAP loss per share of $0.68 beat estimates by $0.18.

Operating expenses reached $758.2 million, up 250.6% year-over-year, resulting in an operating loss of $175.9 million, a 58.2% wider loss than a year ago, and a net loss of $190.4 million. Operating cash flow came in at $2.25 billion. The company signaled it will continue investing heavily in capital expenditures to support further expansion.

Shares of NBIS surged 16.6% in pre-market trading following the results. CEO Arkady Volozh published a quarterly shareholder letter alongside the announcement, with management hosting an earnings webcast on the morning of August 12.