Nebius Group N.V. ( NBIS ) reported second-quarter financial results before the market open on Thursday. Here’s a look at the key details from the report.

Q2 Earnings: Nebius Group ( NBIS ) reported second-quarter revenue of $105.1 million, up 625% year-over-year and up 106% on a quarter-over-quarter basis. The revenue increase was driven by continued strong demand from increasing AI use cases, growth in adoption and the expansion of the company’s client base.

Nebius Group ( NBIS ) reported positive adjusted EBITDA in its core AI infrastructure business and a group EBITDA loss of $21 million. The company ended the quarter with approximately $1.68 billion in cash.

"In Q2 we more than doubled revenue from the previous quarter, and our core business achieved positive Adjusted EBITDA ahead of plan. Because of this strong momentum, we are increasing our annualized run-rate revenue (ARR) outlook for the year to $900 million to $1.1 billion,” said Arkady Volozh, founder and CEO of Nebius ( NBIS ).

The company said it’s also in the process of securing more than 1 GW of power by the end of 2026.

"Demand for AI infrastructure — compute, software and services — is only going to get stronger as use cases multiply. We are aggressively scaling up capacity to capture this substantial opportunity,” Volozh said.

NBIS Price Action: Nebius Group ( NBIS ) shares were up 16.2% at $64.00 at the time of publication Thursday, according to Benzinga Pro.

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