Photo: Maxim Shemetov / Reuters
Shares of AI company Nebius Group rose nearly 20% in the premarket after posting strong first-quarter 2026 earnings. At the peak, the securities were up as high as $214.45, but the gains slowed to about 10% by the start of the main trading session, with shares trading around $197, Reuters reported.
The company said quarterly revenue rose 684% from a year ago to $399 million, topping analysts’ forecasts who expected revenue of about $389 million.
Net income from continuing operations reached $621.2 million, while the company recorded a loss of $104.3 million in the first quarter of 2025.
According to the source, Nebius continues to invest heavily in expanding its infrastructure for artificial intelligence. The company’s capital expenditures in the first quarter rose to $2.5 billion compared to $544 million a year earlier. The main expenditures were for the purchase of graphics processors, server equipment and development of data centers.
As noted by ReutersReuters notes that business growth is supported by strong demand for AI infrastructure from major technology companies, including Microsoft and Meta Platforms. Analysts expect that by the end of the year the capacity of Nebius data centers may grow to 900 MW, which could provide a further increase in revenue.
In March, the company announced plans to build a new data center with up to 310 MW of capacity in Lappeenranta, Finland. In addition, Nebius reported multi-billion dollar contracts for AI infrastructure and cloud services.
